Brewing giant SABMiller missed forecasts as it reported flat third-quarter worldwide underlying beer volumes on Tuesday as consumer demand was varied, with some regions showing signs of recovery and others subdued.
The London-based brewer, which lost out to Heineken in the race for Mexican brewer FEMSA Cerveza earlier this month, reported level volumes for its October to December 2009 quarter compared to analysts’ forecasts for a 1% rise.
This came after the group reported a 1% fall for its half-year to end-September 2009, as growth in China and other emerging markets such as Latin America and Africa helped to offset falls in Europe, North America and South Africa.
The group behind brands such as Miller Lite, Peroni and Grolsch added that its financial performance in the quarter was in line with its own expectations. — Reuters