Tag Archives: Weak currencies

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.

Coca-Cola revenue, profits fall on weak currencies

Coca-Cola’s revenue fell for the fourth straight quarter as weak demand in Europe and a strong dollar against other currencies cut into sales from other markets outside the United States, including Latin America.

Coke and its smaller rival, PepsiCo have been hurt as consumers increasingly turn away from carbonates and instead opt for healthier beverages such as teas, water, fruit juices and smoothies.