Brewer's taste for emerging markets

Strong growth in the emerging markets of Africa, Asia and Latin America helped brewing giant SABMiller beat forecasts with a double-digit rise in annual profit yesterday while Europe and North America proved tougher.

The world's second-largest brewer and maker of Miller Lite, Peroni and Grolsch said trading in its emerging markets, which provide more than 80 per cent of earnings, were improving led by Africa and Asia. Group profits surged by 24 per cent to $3.6 billion (2.2bn) in the year to March on revenues up by 7 per cent.