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Interim results for the year ended 30 September 2002

21 November 2002

Group performance in line with expectations

London and Johannesburg, 21 November 2002. SABMiller plc, a leading force in global brewing, today announces its six-month results to 30 September 2002. Highlights are:


  2003 2002 % change
  US$m US$m US$ £*
Turnover 3,977 2,176 83 74
- excluding Miller 2,670 2,176 23 17
EBITA 553 365 51 44
- excluding Miller 456 365 25 19
Profit before tax 374 302 24 18
Adjusted profit before tax 491 322 52 45
Adjusted earnings per share
(US cents)
26.8 25.7 4 (1)
Adjusted earnings per share (SA cents) – up 30% 276.7 213.0    
Dividend per share (US cents) 6.5 6.5 -  

* Percentages expressed in terms of £ sterling movements are given above in order to aid comparability with other FTSE companies and are provided for information only.


  • Total beverage volumes up 57% to 75 million hls, organic up 5%
  • Strong performance from Europe – EBITA up 22%
  • South African businesses perform well despite currency decline
  • Africa and Asia profits grow ahead of expectations – EBITA up 52%
  • Miller integration proceeding as planned

Graham Mackay, Chief Executive, commented:

"Our established businesses have delivered good results and improved margins across the board, while we focus on integrating and positioning the strategically important new acquisitions in North and Central America. The benefits of an increasingly balanced portfolio play an important part in the group's overall results. We are working actively on numerous projects at Miller Brewing Company to improve its performance and are confident that the potential identified at acquisition will be realised over time."

View the Interim Announcement news release PDF 0.13Mb

This announcement, a copy of the slide presentation and video interviews with management are available on the SABMiller plc website at Video interviews with management can also be found at

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