SABMiller released its FY accounts. As a reminder, the group’s NPR grew +5% with price/mix, whereas volumes were up +2% (lager +1%, soft drinks +6%). For FY16, the group’s EBITA on an organic basis progressed by +8% (EBITA margin +60bp). On reported figures (excluding revenue from associates and JVs), FY revenue was down 10%, whereas the operating margin contracted 270bp. The share of profits from associates and JVs was up +4%. The FY net profit was down 18% on the back of adverse
18 May 2016
FY: solid underlying growth overshadowed by currency headwinds
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
FY: solid underlying growth overshadowed by currency headwinds
SABMiller released its FY accounts. As a reminder, the group’s NPR grew +5% with price/mix, whereas volumes were up +2% (lager +1%, soft drinks +6%). For FY16, the group’s EBITA on an organic basis progressed by +8% (EBITA margin +60bp). On reported figures (excluding revenue from associates and JVs), FY revenue was down 10%, whereas the operating margin contracted 270bp. The share of profits from associates and JVs was up +4%. The FY net profit was down 18% on the back of adverse