Annual Report - SABMiller India

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Consolidated income statementfor the year ended 31 March2008 2007Notes US$m US$mRevenue 2 21,410 18,620Net operating expenses 3 (17,962) (15,593)Operating profit 3,448 3,027Operating profit before exceptional items 2 3,560 3,120Exceptional items 4 (112) (93)Net finance costs 5 (456) (428)Interest payable and similar charges 5a (721) (668)Interest receivable and similar income 5b 265 240Share of post-tax results of associates 13 272 205Profit before taxation 3,264 2,804Taxation 7 (976) (921)Profit for the financial period 26a 2,288 1,883Profit attributable to minority interests 265 234Profit attributable to equity shareholders 2,023 1,6492,288 1,883Basic earnings per share (US cents) 8 134.9 110.2Diluted earnings per share (US cents) 8 134.2 109.5All operations are continuing.The notes on pages 66 to 133 form part of the financial statements.62 Consolidated income statementSABMiller plc Annual Report 2008
Consolidated balance sheetat 31 March2008 2007Notes US$m US$mAssetsNon-current assetsGoodwill 10 15,600 13,250Intangible assets 11 4,383 3,901Property, plant and equipment 12 9,037 6,750Investments in associates 13 1,826 1,351Available for sale investments 14 52 52Derivative financial instruments 23 208 34Trade and other receivables 16 240 181Deferred tax assets 20 340 16431,686 25,683Current assetsInventories 15 1,350 928Trade and other receivables 16 1,871 1,471Current tax assets 188 103Derivative financial instruments 23 45 6Cash and cash equivalents 17 673 4814,127 2,989Assets in disposal groups held for sale 18 – 644,127 3,053Total assets 35,813 28,736LiabilitiesCurrent liabilitiesDerivative financial instruments 23 (34) (5)Borrowings 21 (2,062) (1,711)Trade and other payables 19 (3,273) (2,746)Current tax liabilities (534) (429)Provisions 24 (300) (266)(6,203) (5,157)Liabilities directly associated with disposal groups held for sale 18 – (19)(6,203) (5,176)Non-current liabilitiesDerivative financial instruments 23 (497) (204)Borrowings 21 (7,596) (5,520)Trade and other payables 19 (338) (269)Deferred tax liabilities 20 (1,775) (1,393)Provisions 24 (1,160) (1,173)(11,366) (8,559)Total liabilities (17,569) (13,735)Net assets 18,244 15,001EquityShare capital 25 158 158Share premium 26a 6,176 6,137Merger relief reserve 26a 3,395 3,395Other reserves 26b 2,215 466Retained earnings 26a 5,601 4,250Total shareholders’ equity 17,545 14,406Minority interests in equity 26a 699 595Total equity 18,244 15,001The balance sheet of SABMiller plc is shown on page 136.The notes on pages 66 to 133 form part of the financial statements.The financial statements were authorised for issue by the Board of directors on 2 June 2008 and were signed on its behalf by:Graham MackayMalcolm WymanChief Executive Officer Chief Financial OfficerOverview Operating and financial review Governance Financial statements Shareholder informationConsolidated balance sheet 63SABMiller plc Annual Report 2008
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Annual ReportSABMiller plc Annual R
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Our performance■ Group lager volu
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North AmericaMiller Brewing Company
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Share price 1 April 2003 to 31 Marc
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Chief Executive’s reviewSuccess r
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In South Africa, where SAB Ltd bega
Page 13 and 14: Grolsch: a strong additionto the pr
Page 15 and 16: A full portfolio in BotswanaSt Loui
Page 17 and 18: Developing relationships with large
Page 19 and 20: Leveraging our local value chainWhe
Page 21 and 22: Double digit organic constant curre
Page 23 and 24: +16%increase in dividendsfor the ye
Page 25 and 26: Our strong financial structure give
Page 27 and 28: In Panama lager volumes were up by1
Page 29 and 30: of 2.4% for the year complemented b
Page 31 and 32: Volumes grew in both the mainstream
Page 33 and 34: For our full Sustainable Developmen
Page 35 and 36: Priority Why it is Targets we set P
Page 37 and 38: For ease of reference, directors’
Page 39 and 40: considered by the board. The perfor
Page 41 and 42: 5.6 The corporate accountability an
Page 43 and 44: The directors are responsible for t
Page 45 and 46: ^ Corporate accountability and risk
Page 47 and 48: Directors’ reportThe directors ha
Page 49 and 50: As noted above the board has determ
Page 51 and 52: Remuneration reportIntroductionThis
Page 53 and 54: Annual incentive plansEach of the e
Page 55 and 56: During the year Mercer undertook th
Page 57 and 58: Directors’ beneficial interests i
Page 59 and 60: SABMiller plc Approved Share Option
Page 61 and 62: SABMiller plc Executive Share Purch
Page 63: Independent auditors’ reportto th
Page 67 and 68: Consolidated statement of recognise
Page 69 and 70: 1. Accounting policies continuedc)
Page 71 and 72: 1. Accounting policies continuedInt
Page 73 and 74: 1. Accounting policies continuedDer
Page 75 and 76: 1. Accounting policies continuedDef
Page 77 and 78: 2. Segmental analysisPrimary report
Page 79 and 80: 2. Segmental analysis continuedBala
Page 81 and 82: 3. Net operating expenses continued
Page 83 and 84: 6. Employee and key management comp
Page 85 and 86: 8. Earnings per share2008 2007US ce
Page 87 and 88: 10. Goodwill continuedGoodwill allo
Page 89 and 90: 12. Property, plant and equipmentAs
Page 91 and 92: 13. Investments in associates conti
Page 93 and 94: 16. Trade and other receivables con
Page 95 and 96: 20. Deferred taxationThe movement o
Page 97 and 98: 21. Borrowings continuedNon-current
Page 99 and 100: 22. Financial risk factorsFinancial
Page 101 and 102: 22. Financial risk factors continue
Page 107 and 108: 23. Derivative financial instrument
Page 109 and 110: 24. Provisions continuedInsuranceIn
Page 111 and 112: 25. Share capital continuedDeferred
Page 113 and 114: 25. Share capital continuedc) Perfo
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25. Share capital continuedOutstand
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26a. Statement of changes in shareh
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27a. Reconciliation of profit for t
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28. Acquisitions and disposalsThe f
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28. Acquisitions and disposals cont
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29. Commitments, contingencies and
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30. Pensions and post-retirement be
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33. Principal subsidiary and associ
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33. Principal subsidiary and associ
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Independent auditors’ reportto th
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Notes to the company financial stat
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1. Accounting policies continuedi)
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3. Investment in subsidiary underta
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8. Financial instruments continuedD
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10. Profit and loss informationEmpl
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IFRS IFRS IFRS IFRS UK GAAP UK GAAP
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Ordinary shareholding analysesListe
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AdministrationSABMiller plc(Registr
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SGS-COC-003115Printed on a 75% recy
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Annual Report - SABMiller India

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