Daily Archives: July 28, 2016

Diageo shows signs of return to growth but held back as currency headwinds hit revenue and profits

Diageo said on Thursday that revenue for the full year ended June 30 2016 fell 3% to £10.5bn, while net profit declined 6% to £2.24bn ($2.94bn), from £2.38bn a year earlier as currency devaluations and sale of its wine business hit the figures.

SABMiller suspends action on integration with AB InBev as it considers new offer

SABMiller has put on hold integrating its operations with those of Anheuser-Busch InBev while it considers new offer made by the brewer raising concerns the deal might be in jeopardy.

AB InBev, which is nearing completion of the acquisition of SABMiller increased its cash offer on Tuesday to £45 per share to stop a revolt by SABMiller’s shareholders who have seen the value of their investment decline fallowing Britain’s vote to leave the European Union.

South Africa’s pension fund in talks with SABMiller over AB InBev’s offer


South Africa’s Public Investment Corporation (PIC), a state pension fund and SABMiller’s fourth-largest shareholder said on Wednesday it was in discussions with the brewer about an improved offer from Anheuser-Busch InBev (AB InBev), the fund said.