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The company's profit for the year declined to US$1.88 billion or 124.7 US cents per share from US$2.02 billion or 134.2 US cents per share a year ago.
Excluding items, like integration and restructuring costs, amortisation of intangible assets and litigation expenses, among others, the company's adjusted earnings for the year declined to US$2.06 billion or 136.8 US cents from US$2.15 billion or 142.4 US cents a year before.
SABMiller's annual pre-tax profit was US$2.96 billion, reflecting a drop of 9% from last year.
The company's lager volumes for the year were 210 million hectolitres, up 2% from last year.
The brewer's annual revenues increased to US$25.3 billion from US$23.83 billion reported a year before. Excluding associates' and joint ventures' revenue, the company's annual revenue in 2009 totaled US$18.7 billion, down from US$21.41 billion last year. According to the company, 2009 is not comparable with 2008 as MillerCoors' revenue is not included in 2009 although Miller Brewing Company revenue is included in 2008.
SABMiller and Molson Coors combined their U.S. operations and the joint venture commenced operations under the name MillerCoors on July 1, 2008.
SABMiller said that there was a slight rise in organic lager volumes in the first half, despite price increases, challenging comparatives and slowing growth across a number of markets. Demand weakened in the second half, particularly in the last quarter, and organic lager volumes declined 1% as the effects of the financial crisis began to be felt more directly by consumers, the company said.
SABMiller said that its board has recommended a final dividend of 42.0 US cents per share, which will be paid to shareholders on August 28, 2009. This brings the total dividend to 58.0 US cents, unchanged from the prior year.
The company warned that commodity cost pressures and the currency translation effect of the stronger U.S. dollar will continue to impact its results this year.
SABMiller however remains confident in its medium term prospects. The company revealed that it is taking appropriate short-term mitigating actions in certain countries to reduce costs. The company added that it will continue to invest selectively to support growth, in the light of expected economic conditions.
On the London Stock Exchange, SAB.L has been trading in the range of 758 pence - 1,371 pence over the last twelve months. The stock is currently down 0.16% trading at 1,218 pence on a volume of 1.1 million shares.
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