London - Global brewer SABMiller
[JSE:SAB] showed a 3% rise in underlying beer volumes in the first three months of 2012 as growth in the emerging markets of Latin America, Africa and Asia offset declines in Europe and North America.
The world’s No 2 brewer and maker of Miller Lite, Castle and Peroni beers added on Thursday that beer volumes at its newly-acquired Foster’s Australian business dipped 4% in the first three months of ownership in a tough market.
Big brewers are relying on emerging markets growth and price rises to offset sluggish growth and tough competition in more mature markets, and SABMiller has a higher proportion of profits from emerging markets than its key rivals at around 70%.
The 3% quarterly rise was just below an average forecast of 3.3% for fourth-quarter January-March beer volumes but within a 3-4% range based on a Reuters survey of 10 brokers, which followed a 3% rise in the first nine months of April-December 2011.
London-based SABMiller reported its beer volumes for its full year through to end-March were up 3%, with price rises helping to push annual revenue up 7% while it added overall trading was line with its own expectations.