SABMiller sales rise on Latin American demand

London - Brewer SABMiller [JSE:SAB] reported a rise in quarterly sales, helped by higher demand for beverages in Latin America and Africa, which were partly offset by declines in Europe.

The world's No. 2 brewer, with brands including Peroni, Grolsch and Pilsner Urquell, said revenue rose 3% in the three months to June 30, the first quarter of its new financial year.

Volume of lager, SABMiller's core business, declined 1%, while volume of soft drinks rose 4%.

"Both revenue and volumes grew strongly in Latin America and Africa in the quarter, tempered in particular by a challenging quarter in our key European markets, where the trading environment remains difficult, and softer volumes in China," chief executive Alan Clark said in a statement on Thursday.