| Thu 28 Jan 2010, 16:46 | | SAB - SABMiller plc - Altria financial data disclosure |
|
SAB
SOSAB
SAB - SABMiller plc - Altria financial data disclosure
SABMiller plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMiller plc
Altria Financial Data Disclosure
RNS announcement
Altria Group, Inc. (Altria) has released its full annual report filing with the
SEC for the fiscal year ended 31 December 2009. Altria`s annual report filing
includes the summary financial disclosures as set out below for the three years
ended 31 December 2009, expressed in US GAAP at prevailing exchange rates, of
which 27.3% is attributable to Altria`s economic and voting investment in
SABMiller plc. These disclosures are required because of the size of Altria`s
investment in SABMiller as a percentage of Altria`s total assets.
Investors should note that the financial disclosures are derived from management
accounts, have not been audited and may be subject to change. In relation to the
US GAAP information disclosed by Altria there are a number of differences
concerning the timing of recognition of results as well as differences relating
to the treatment of exceptional items and the definition of the US GAAP
statutory financial information compared to SABMiller`s financial information
as reported under IFRS.
Summary financial data relating to SABMiller is as follows:
Balance Sheet As at 31 December
2008
US$m US$m
Current Assets 4,495 4,266
Long-term assets 33,841 30,077
Current liabilities (5,307) (5,403)
Long-term liabilities (13,199) (12,170)
Non controlling interests (672) (660)
Income Statement For the years ended
31 December
2009 2008 2007
US$m US$m US$m
Net revenues 17,020 20,466 20,825
Operating profit 2,173 2,854 3,230
Net earnings 1,473 1,635 1,865
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.
28 January 2010
Date: 28/01/2010 16:46:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
