Peroni lager's UK sales fizz for brewer SABMiller

Italian lager Peroni Nastro Azzurro saw a 29% surge in UK sales last year as it was accepted in more and more pubs and supermarkets, global brewer SABMiller said today.

The broader picture saw a mere 4% rise in worldwide revenues to $26.3 billion (£18.3 billion) in the year to March with headline profits up 12% to $3.8 billion.

The dividend is risen 17% to 68 cents a share.

SABMiller said although it began to see signs of economic recovery in some of its emerging markets business towards the end of the last financial year it does not expect a broader recovery in consumer spending to take hold until the second half of the current year.

Its shares slumped 114p to 1921p.

Chief executive Graham Mackay said: "A broader recovery in consumer spending is not expected before the second half of the current financial year."