Profit growth
For the year ended 31 March, South African Breweries (SAB) reported a 26.5% rise in pre-tax profits from US$600 million to US$764 which has been boosted by an exceptional gain of US$76 million from the sale of SAB’s PGSI subsidiary. While turnover fell from US$6.18 billion to US$5.42 billion, earnings per share improved from 43.9 cents to 64.3 cents; adjusted earnings per share (minus the effect of the PGSI disposal) were 56.6 cents compared with 54 cents for the previous year. The company announced a proposed final distribution of 18.5 cents which makes a total dividend of 25 cents for the year.
SAB confirmed it was intending to either list or sell its hotels and gaming division later in the year..
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