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SABMiller reports second-quarter acceleration as forex weighs

Reuters - UK Focus

LONDON, Nov 12 (Reuters) - Brewer SABMiller reported higher underlying sales for the second quarter on Thursday, a day after larger rival Anheuser-Busch InBev launched a $100 billion-plus takeover bid for it.

The maker of beers such as Peroni and Grolsch said its performance accelerated in the second quarter, with underlying revenue up 6 percent and beverage volume up 2 percent from the prior year. That marked an improvement from revenue up 3 percent and volumes flat in the first quarter.

On a reported basis, revenue fell 12 percent to $10.0 billion and earnings before interest, tax and amortisation (EBITA) fell 11 percent to $2.9 billion in the six months to 30 September, due to the depreciation of certain currencies against the U.S (Other OTC: UBGXF - news) . dollar.

(Reporting by Martinne Geller; editing by Jason Neely)