Group lager volumes up 11% to 239 million hectolitres (hl), organic growth of 7%
- EBITA up 15%, and 9% on an organic constant currency basis despite rising input costs
- Mix benefits and strong pricing improve Miller EBITA in the USA
- Volume, price and productivity gains drive excellent earnings growth in Europe –
EBITA up 30%
- Latin America lager volume growth of 5% despite exceptional prior year – EBITA up 17%
- Africa lager volumes up 6% organically – substantial investment programme to capture
growth opportunities
- CR Snow volume growth continues ahead of the China market – Snow brand up 63
- South Africa lager volumes level – a satisfactory result given loss of a premium brand
Notes
1 Revenue excludes the attributable share of associates’ revenue of US$2,418 million (2007: US$2,025 million).
2 Note 2 provides a reconciliation of operating profit to EBITA which is defined as operating profit before exceptional items and
amortisation of intangible assets (excluding software) but includes the group’s share of associates’ operating profit, on a similar
basis. As described in the Chief Financial Officer’s review, EBITA is used throughout this report.
3 Reconciliation of adjusted earnings to the statutory measure of profit attributable to equity shareholders is provided in note 8.
4 Subject to shareholder approval of final dividend at AGM.