just The Preview - SABMiller's Q1
SABMiller will give a Q1 trading update on Thursday (24 July)
On Thursday (24 July), SABMiller will give a trading update for its first quarter. The company also hosts its AGM on the same day. Here, just-drinks looks at how the UK-headquartered brewer and soft drinks firm has fared in the three months to the end of June.
- In early April, the company's US JV with Molson Coors, MillerCoors, claimed that two former employees had embezzled “several million dollars” from the company
- The group also revealed plans in April to merge its South Africa and Africa units, to treat the continent as one region
- The company confirmed a move to cut around 400 jobs at its South African soft drinks unit, Amalgamated Beverage Industries (ABI)
- In mid-April, it emerged that a contractual dispute between SABMiller's Canadian unit and Molson Coors was set to head to court
- In late-April, the group's Australian subsidiary, Carlton & United Breweries, was fined AUD20,400 (US$18,898) for misleading consumers over the origins of one of its craft-like beer brands
- Talk of rival Anheuser-Busch InBev making a move for SABMiller emerged yet again. But, one analyst remained unconvinced that a deal is imminent.
It's not like we weren't warned. After all, it was only two weeks ago that SABMiller's CEO lauded the potential for soft drinks in emerging markets....
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