London - SABMiller [JSE:SAB], the world’s second-biggest
brewer, posted an expected 4% rise in underlying first half beer volumes after
growth across most of its regions, including Europe where sales were boosted by
selective price reductions.
The Miller Lite, Grolsch and Peroni maker, which earns 70%
of its profit from fast-growing emerging markets, also reported on Thursday an
8 % rise in organic, constant currency group revenue in the six months to
September.
The 4% underlying quarterly rise in beer volumes, after stripping out the effects of acquisitions, matched an analyst consensus forecast of 4% and follows a 5% volume rise in its first quarter.
Including acquisitions and disposals, total volumes were up
9%.
The 4% underlying quarterly rise in beer volumes, after
stripping out the effects of acquisitions, matched an analyst consensus
forecast of 4% and follows a 5% volume rise in its first quarter.
The brewer, which also makes Castle, Snow, Pilsner Urquell
and Aguila beers, said that quarterly underlying volumes rose 6% in Africa, 5%
in Asia-Pacific, and 1% in South Africa.
The United States, where it operates through its
MillerCoors venture, remained weak, with
sales to retailers falling 1.9% and
sales to wholesalers down 1.2%.
In Europe, lager volumes rose by 9% helped by selective
price reductions, with the Euro 2012 soccer tournament boosting Polish beer
sales, and demand for its Peroni brand pushing up domestic volumes by 5% in the
UK.
The London-based brewer, which has expanded rapidly over the
past two decades from its South African roots, added that its recently-acquired
Foster’s Australian business suffered a 13% dip in volume. The decline was
partly because of the termination of some licensed brands after SABMiller’s
purchase of Foster’s in December 2011.
Soft drinks volumes were 6% higher year-on-year on an
organic basis.
Shares in the firm were down 1.15% in early trading.