Fin24

SABMiller ups revenue 17%

2013-01-22 09:32

London - Global brewer SABMiller [JSE:SAB] said its overall revenues rose 17% in the third quarter compared to last year, sustained by improving growth in its key Latin American markets.

Lager volumes were up 2% on an organic basis for the quarter, said the maker of Miller Lite, Grolsch and Peroni, with overall performance in line with its expectations.

Growth in volume terms was held back by a decline in China, where cold weather subdued demand.

The world's second biggest brewer earns around 70% of its profit from fast-growing emerging markets, which helps insulate it from tough mature markets where hard-pressed consumers are economising at the bar and drinking less beer at home.