23rd Apr 2015 13:00
SABMiller plc
Altria Financial Data Disclosure
23 April 2015
Today, Altria Group, Inc. (Altria) has released its results for the fiscal quarter ended 31 March 2015. Altria's results include a reference to earnings for the quarters ended 31 March 2015 and 2014 from Altria's approximate 27% economic and voting investment in SABMiller plc, expressed in US GAAP at prevailing exchange rates.
The amount disclosed for the quarter ended 31 March 2015 is US$134 million (31 March 2014: US$225 million). Altria's earnings from SABMiller for the quarter were negatively affected by SABMiller's special items, primarily relating to asset impairment charges in relation to India and SABMiller's share of impairment charges taken by Anadolu Efes which are expected to be recorded by SABMiller in the quarter ended 31 March 2015. 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 accounting treatment of share-based payments, exceptional items, the definition of the US GAAP statutory earnings as reported by Altria compared with SABMiller's results as reported under IFRS, as well as the inclusion within Altria's earnings of gains on the dilution of Altria's investment in SABMiller following the issue of new SABMiller shares pursuant to share option exercises.
John Davidson
General Counsel and Corporate Affairs Director
23 April 2015
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