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SAB
SOSAB
SAB - SABMiller Plc - Altria Financial Disclosure
SABMiller plc
JSEALPHA CODE: SAB
ISIN CODE: SOSAB
ISIN CODE: GB0004835483
Altria Financial Disclosure
Altria Group Inc. (Altria) has released a revision to its reported results for
the fiscal quarter ended 31 March 2012 from its 27.0% economic and voting
investment in SABMiller plc, expressed in US GAAP at prevailing exchange rates.
Altria will record one-time non-cash exceptional gains of US$240 million
reflecting Altria`s share of non-cash exceptional gains resulting from
SABMiller`s strategic alliance transactions with Anadolu Efes and Castel that
were completed in the first quarter of 2012. Altria has determined that it is
appropriate to revise its first quarter 2012 financial statements to reflect its
share of the non-cash gains. Altria has determined that the non-cash gains were
not material to Altria`s first quarter 2012 financial statements. Accordingly,
Altria will reflect this revision in its financial statements for the six months
ending 30 June 2012.
Investors should note that these exceptional gains are derived from management
accounts, have not been audited and may be subject to change. There are a number
of differences concerning the timing of recognition of results as well as
differences relating to the accounting treatment of exceptional items and the
definition of the US GAAP statutory earnings as reported by Altria compared to
SABMiller`s results as reported under IFRS.
John Davidson
General Counsel and Group Company Secretary
17 May 2012
Date: 17/05/2012 08:00:40 Produced by the JSE SENS Department.
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