The world's second-largest brewer, SABMiller, has reported a rise in profits for the first half of its financial year, as strength in Africa helped offset declining beer sales in Europe and North America.
Earning before interest, taxes, depreciation and amortization rose 7% to $3.27 billion in the six months ended 30 September. This is exceeded analysts' average estimate of $3.22 billion.
Lager sales by volume rose 1%. Gains of 9% in Africa, 4% Asia Pacific and 1% in Latin America were tempered by declines of 4% in Europe and 3% in North America.
Shares of the company, which had fallen nearly 10% in the past 6 months, were up 0.6& at 3255.5 pence at 08:30 GMT on Thursday.
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