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Miller beer says annual results top expectations
Here's a business that might be benefiting from a slowing economy -- Miller beer.
The SABMiller company says (today) its annual results would be at the upper end of expectations. Lager sales have helped. Lager volumes in North America are up 3 percent and 15 percent in Asia and Africa. The cost of producing beer has increased as grain has become more expensive. But Miller says it has increased prices. It also said currency shifts have helped stave off a loss. Analysts say the beer industry should remain strong in the U.S. during the slowdown.
Posted by Lori Stassi on April 16, 2008 9:37 AM PT | Permalink
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