Europe

Brewer SABMiller has revealed in its full year trading update that strong performances in Africa and Asia boosted overall results.

The London-based maker of Peroni and Grolsch said that revenues for the 12 months to 31 March 2011 grew by five per cent, with lager volumes rising by two per cent. Within this, lager volumes in Africa increased by 13 per cent and in Asia by eight per cent.

However Latin American volumes remained level with the previous year, and fell in Europe by three per cent.

Deutsche Telekom and France Telecom-Orange have signed an agreement to combine their procurement activities of customer equipment, network equipment, service platforms and IT infrastructure as part of a 50/50 joint venture.

The companies have estimated that after three years, potential global savings could be achieved of between €400 million and €900 million.

Caspar Gerwe, director of Stage Entertainment International Touring, takes Jayne Alverca behind the scenes of Holiday on Ice, the world’s biggest ice entertainment brand.

WS Atkins, the UK-based engineering consultancy, has revealed that a pick-up in construction activity in the Middle East contributed to its strong fourth quarter results.

In a trading statement yesterday, the company said that it now anticipates results for the year ending 31 March 2011 to be ahead of current market expectations.

The company said: “The Group's operations in the Middle East have benefited from increasing activity in the second half of the year, together with further recovery of client payments against which we had previously provided.”

Aquarius Platinum has announced the acquisition of platinum group metal (PGM) mineral rights through its purchase of South Africa-based Afarak Platinum.

Under the terms of the deal, worth $109.7 million, Aquarius will hold a 74 per cent interest in Afarak. The remaining 26 per cent is held by empowerment company Watervale, which is controlled by Savannah Resources, a major shareholder in Aquarius.

Engineering and construction group Costain has snapped up 75 per cent of Aberdeen-based energy engineering consultancy ClerkMaxwell for £3.2 million.

ClerkMaxwell’s management team of five will share approximately 70 per cent of the money paid for the business they started less than three years ago.

Costain also has the option to acquire the remaining 25 per cent of ClerkMaxwell’s shares.

Drinks maker Diageo has made a bid for the Ethiopian state-owned brewery Meta Abo, according to a report in Kenya’s Business Daily newspaper.

The move could jeopardize East Africa Breweries Limited (EABL)’s plans to enter the Ethiopian market, the paper said. London, UK-based Diageo holds a 50.03 per cent stake in EABL.

Diageo is planning to expand its footprint throughout East Africa, and has so far used EABL as its vehicle in the region.

Diageo’s rivals Heineken and SABMiller are also said to have made bids to acquire Meta Abo.

UK-based Sable Mining Africa has acquired an 80 per cent stake in Sierra Leone’s Red Rock Mining, it has been announced.

Red Rock holds a 50-year lease at the Bagla Hills iron ore deposit in the south-east of Sierra Leone. Bagla Hills lies about 52 kilometres from Kenema, and forms a continuation of the Western Cluster iron ore deposits across the border with Liberia.

 The lease area covers 206.75 square kilometres in total.