World No. 2 brewer SABMiller beat forecasts on Thursday with a 6 percent rise in first-half profit and said its second half should be boosted by a fall in input costs and favorable currency movements.
The London-based brewer [ SAB-LN 1691.00 
-8.00 (-0.47%) ] of Miller Lite, Peroni and Grolsch beers reported adjusted earnings per share of 80.0 U.S. cents for the six months to end-September, compared with average forecasts of 71 cents according to Thomson Reuters I/B/E/S.
Although the brewer said current trading conditions are set to continue into the second half, it added that input costs will begin to ease towards the end of this year and its second half will benefit from exchange rate benefits.
"The group's financial position remains strong and we are well positioned to take advantage of future improvements in the market environment," the group said in a results statement.
The half-year dividend rose 6 percent to 17 cents a share.
The brewer, which earns nearly 90 percent of its profits from emerging markets like South Africa, Colombia, Poland and China, made no mention of Mexico's second biggest brewer FEMSA Cerveza after analysts said they see SABMiller as the front-runner to buy the business.
More Top Stories