Daily Archives: May 18, 2016

SABMiller’s profit down 18% in full-year on FX write-downs, merger costs

SABMiller Plc, the global behemoth in the midst of being acquired by its bigger rival, Anheuser-Busch InBev (AB InBev), said on Wednesday that its full-year net profit ending March 31 2016 fell 18% due to impairment charges related to closure of its business in South Sudan and a partial pull-back of its activities in Angola ($561m). Both countries have suffered from devaluation of their currencies, making obtaining foreign currencies difficult for businesses.