23rd Oct 2008 14:30
SABMiller plc
Altria Financial Data Disclosure
23 October 2008
Today, Altria Group, Inc. (Altria) released its results for the fiscal nine month period and the fiscal quarter ended 30 September 2008. This year, Altria's results include a reference to earnings for the quarters and nine month periods ended 30 September 2008 and 2007 attributable to Altria's economic and voting 28.5% investment in SABMiller plc, expressed in US GAAP at prevailing exchange rates.
The amount disclosed for the nine month period ended 30 September 2008 is US$344 million (nine month period ended 30 September 2007: US$392 million).The amount disclosed for the quarter ended 30 September 2008 is US$54 million (quarter ended 30 September 2007: US$132 million). Investors should note that these financial results are derived from management accounts, have not been audited and may be subject to change. There are a number of differences concerning the timing of recognition of results as well as differences relating to the treatment of exceptional items, the impairment of intangible assets not separately recognised in SABMiller's IFRS accounts and the definition of the US GAAP statutory earnings as reported by Altria compared to SABMiller's results as reported under IFRS. Due to these differences, the US GAAP results used to calculate Altria's share of reported earnings for SABMiller were significantly below SABMiller's IFRS results in the quarter ended 30 September 2008.
Related Shares:
SAB.L