Posted AT 7:24 AM EST on 13/11/08
SABMiller warns of cutbacks
LONDON — Brewing giant SABMiller warned it is looking to cut back investment spending as a global economic slowdown hits beer drinking, after the group reported half-year earnings growth at the top end of forecasts.
The London-based maker of Miller Lite, Peroni and Pilsner Urquell beers also cautioned it will suffer from higher commodity costs for at least another year, while the recent strength of the U.S. dollar will dent future results.
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