SABMiller down in Johannesburg

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SABMiller Newscast/SABMiller PLC Credit: One Red Eye/Philip Meech.

Johannesburg - Johannesburg-listed shares of SABMiller slide more than 2 percent, in line with those trading in London, after the brewer posts weaker-than-expected full-year sales.

SABMiller said revenue increased by 3 percent, which analysts said was a disappointing performance.

The shares hit a life high of 556.24 rand in the previous session, but have shed 2.4 percent to 536.71 rand.

They are still relatively expensive with a price-to-earnings ratio of 25.85 times, compared with 17.64 times for Johannesburg's Top-40 index. - Reuters

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