Profits cheer for brewers

Last updated 11:48, Thursday, 15 May 2008

SABMiller plc, the brewer behind brands such as Carling Black Label and Miller Genuine Draft among others, announced a 15 per cent increase in full-year profits to $3.64bn this morning.

The brewer, which specialises in emerging markets, said that input costs continue to rise but that it expects to offset these increases through higher prices.

The shares rose 17p to 1220p in early trading.

Thomas Cook Group reported upbeat first-half results this morning as losses at the group narrowed. The shares rose 5.75p to 275.25p at the open in a slightly weaker wider market.