SABMiller beat forecasts with a 28 per cent rise in half-year profits announced today.
The brewer of Miller Lite, Castle and Nastro Azzurro posted earnings for the six months to September 30th of $1.141 billion - ahead of analyst forecasts of $1.013 billion to $1.081 billion.
The brewer, ranked third in the world after Belgium's InBev and Anheuser-Busch, said its global beer volumes, stripping out the effects of acquisitions, rose by 5 per cent in the half-year to September 30th.
The group reported half-year earnings per share rose 38 per cent to 48.8 US cents ahead of forecasts of 43.4-45.5 US cents, while its half-year dividend rose 60 per cent to 12.0 US cents a share.
SABMiller's shares have outperformed the FTSE 100 index by 36 per cent and UK rival Scottish and Newcastle by 30 per cent this year. They have risen nearly 50 per cent to close Wednesday at 847 pence from 570p at the start of 2004.