28th Jan 2010 13:30
SABMiller plc
Altria Financial Data Disclosure
28 January 2010
Today, Altria Group, Inc. (Altria) has released its results for the fiscal year and the fiscal quarter ended 31 December 2009. Altria's results include a reference to earnings for the quarters and twelve month periods ended 31 December 2009 and 2008 from Altria's 27.3% economic and voting investment in SABMiller plc, expressed in US GAAP at prevailing exchange rates.
The amount disclosed for the year ended 31 December 2009 is US$600 million (year ended 31 December 2008: US$467 million). The amount disclosed for the quarter ended 31 December 2009 is US$158 million (quarter ended 31 December 2008: US$123 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 definition of the US GAAP statutory earnings as reported by Altria compared to SABMiller's results as reported under IFRS, and also the inclusion within Altria's earnings of gains on the dilution of Altria's investment in SABMiller following the issue of new SABMiller shares.
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