SABMiller Full-Year Profit Slips

reported a decline in its profit for the year to March 31. SABMiller's annual net profit slipped to $3.30 billion, versus a year-ago profit of $3.38 billion. Its operating earnings declined 1 percent to $6.37 billion (4 billion pounds), versus analysts' estimates of $6.23 billion. Its revenue gained 6 percent to $22.13 billion. Net producer revenue dropped 2 percent to $26.29 billion, versus analysts' expectations of $26.23 billion. Excluding currency fluctuations impact, revenue rose 5 percent. SABMiller's sales in Africa gained 9 percent, while sales in Latin America climbed 7 percent. SABMiller shares fell 1.78 percent to close at $55.21 yesterday.