Brewing giant SAB Miller has continued to confound critics since expanding out of its South African home base in 1994. Its biggest coup was acquiring an American beachhead with Miller and now it plans to sell its Italian beer Peroni there. The shares are no longer cheap at just under 700p and the company needs to keep the good news "rolling thick and fast". But with the company's strong balance sheet and at least £1bn earmarked for "bolt-on" acquisitions, Throg Street columnist Richard Wachman believes they are still worth watching. The Observer 18/07/04 (Business) page 8