Brewer SABMiller Full-year Profit Down 7 Pct

SABMiller said lager volume in Latin America rose 1 percent with robust growth in Peru and Ecuador offset by the impact of the economic slowdown in Colombia and Central America.

In Europe, volume was in line with the previous year as economic conditions deteriorated sharply in the second half putting pressure on consumer disposable income.

"The group delivered robust results in the face of multiple challenges including higher commodity costs, an appreciating U.S. dollar and weakening consumer spend," said Chairman Meyer Kahn. "Our performance in this difficult environment was driven by continued adherence to our strategic priorities and the power of our leading local brands which have been patiently built over many years."

The Kompania Piwowarska deal will give SABMiller full control of its largest and most profitable business unit in Europe and while the company said it will have no material impact on earnings in the current financial year, it added that it will "be of significant strategic benefit in the medium term."

Kompania Piwowarska, which has the Tyskie and Lech brands, is currently the largest brewer in Poland with a market share of approximately 43 percent and volumes of 15.1 million hectolitres.