SABMiller profits hit by takeover costs

SABMiller, the brewer that is due to be bought by Anheuser-Busch InBev later this year, reported a decline in full-year profit as it was saddled with charges related to some African operations and costs associated with the takeover.

Adjusted pretax profit fell 16% to $4.1bn (€3.62bn) in the year through March, the London-based maker of Castle lager said.

Earnings were hurt by a $572m charge as the brewer scaled back operations in Angola and war-torn South Sudan, as well as $160m in costs associated with the AB InBev deal.