Get more Mail & Guardian
Subscribe or Login

SABMiller third-quarter volumes up 3%

Brewer SABMiller beat forecasts with a 3% rise in quarterly volumes, boosted by growth in Africa and Asia and an improving Europe offsetting a fall in Colombia, which was hit by the heaviest rain for 50 years.

The London-based brewer of Miller Lite, Peroni and Grolsch said on Tuesday that beer price rises helped boost its quarterly revenue by 6%, adding its financial performance was in line with its own expectations.

Strong volume growth in Asia and Africa offset volume dips in both North and South America in its October to December third quarter, which is heavily dependent on summer beer drinking in the southern markets of South Africa and Latin America.

The big surprise came in Europe where quarterly volumes were flat after forecasts for a continued fall. Growth in Britain and Ukraine helped offset falls in Russia and the Czech Republic.

Emerging markets
The brewer, which earns more than 80% of its profits in emerging markets like Colombia, South Africa, Poland and China, is seeing a recovery in many of these market, while mature markets are held back by high unemployment hitting consumption.

The second-largest brewer in the world after Anheuser-Busch InBev, SABMiller said it has benefited in the quarter from lower costs of certain raw materials.

The group, which also brews Castle, Snow, and Pilsner Urquell, said underlying volumes rose 12% both in Africa and Asia, were 3% up in South Africa, unchanged in Europe and down 1% in Latin America.

In the United States, where it formed the MillerCoors joint venture in July 2008, sales to retailers fell 2,5% in testing industry and economic conditions.

The group added that its soft drinks volumes for the quarter were up 5% on an underlying basis. — Reuters

Subscribe for R500/year

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and get a 57% discount in your first year.

Related stories

WELCOME TO YOUR M&G

If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here

Advertising

Subscribers only

Family wants clarity on SANDF soldier killed in friendly fire...

Corporal Simanga Khuselo join the peacekeeping mission in the DRC to save money to build his family a home

SA soldiers have been fighting in a distant land for...

Troops were sent to the Democratic Republic of the Congo in 2001 as part of the UN peacekeeping mission that became an offensive against rebels

More top stories

ActionSA wants pro-poor, business-friendly metros

Branding itself as a corruption busting party, ActionSA said it will establish dedicated independent forensics units in each of its municipalities, with the mandate to investigate all potential corrupt activities

‘We are focused on the local government elections,’ ANC tells...

The organisation has sent another letter to staff members saying that salaries for July, August and September will not be paid on 25 September

Family wants clarity on SANDF soldier killed in friendly fire...

Corporal Simanga Khuselo join the peacekeeping mission in the DRC to save money to build his family a home

SA soldiers have been fighting in a distant land for...

Troops were sent to the Democratic Republic of the Congo in 2001 as part of the UN peacekeeping mission that became an offensive against rebels
Advertising

press releases

Loading latest Press Releases…
×