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Altria Financial Data Disclosure

28th Apr 2016 12:45

RNS Number : 6870W
SABMiller PLC
28 April 2016
 

SABMiller plc

Altria Financial Data Disclosure

 

28 April 2016

 

Today, Altria Group, Inc. (Altria) has released its results for the fiscal quarter ended 31 March 2016. Altria's results include a reference to earnings for the quarters ended 31 March 2016 and 2015 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 2016 is US$66 million (31 March 2015: US$134 million). Altria's earnings from SABMiller for the quarter were negatively affected by SABMiller's special items, primarily relating to asset impairment charges in Africa which are expected to be recorded by SABMiller in the quarter ended 31 March 2016. 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.

 

Stephen Shapiro

Group Company Secretary

 

28 April 2016

This information is provided by RNS
The company news service from the London Stock Exchange
 
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