UK: SABMiller full-year on the climb
SABMiller has posted a healthy rise in sales for its full year. The brewer's results, released today (18 May), saw a dip in profit before tax, although income excluding exceptional credits in the prior year also rose.
The full-year figures, which for the first time included results from Bavaria, acquired late last year, showed that revenue in the 12-month period to 31 March increased by 19% year-on-year, coming in at US$15.3bn. In volume terms, the group enjoyed a 19% increase to 176m hectolitres, a 5% climb in organic growth.
Profit before tax, however, was hit by net exceptional credits in the prior year of US$415m, resulting in a 4% drop to US$2.45bn. Stripping this out, though, led to net profit increasing by 18% to US$2.62bn.
"This was another year of good growth in volumes, margins and earnings reflecting the growth profile that the group has built over the years," said group chairman Meyer Kahn. "Our track record reflects well-judged acquisitions and investments, successful integration and subsequent operational improvements."
In North America, SABMiller's Miller subsidiary brought in flat revenue for the period of US$4.9bn. The group warned of rising costs in the area, as commodity prices, such as that for aluminium, increased significantly in the year. SABMiller said that Miller maintained firmer year-on-year pricing than its other competitors in the market. EBITA fell in the continent by 7%.
Latin America - including South America - performed in line with group expectations, with group revenue registering organic growth of US$18m to US$521m. The results included five-and-a-half months' worth of figures from Bavaria, which SABMiller bought in October last year. SABMiller said it believes South America presents "significant opportunities... to create further value by leveraging SABMiller expertise."
While Europe produced a 12% increase in sales, reaching US$3.2bn, South Africa performed less impressively, with group revenue rising 5% to US$4.2bn. EBITA in the country rose 11% year-on-year to US$1.06bn.
"Looking forward," Kahn concluded, "a key focus will be on ensuring that we continue to nurture and build brands which are the first choice of consumers."
Major brewing groups are clamouring to get into India, which, by dint of its young population, expanding economy and rising personal disposable income offers huge growth potential. International group...
The group of 120 clerical staff allegedly facing a pension freeze at Miller Brewing Company have voted "overwhelmingly" in favour of possible strike action against the brewer....
A union representing 120 Miller Brewing office workers will today (14 November) vote on possible strike action to counter parent company SABMiller's alleged proposal for a pension freeze. Milwaukee-ba...
Global brewer SABMiller has announced it is making simultaneous tender offers on the Lima Stock Exchange for all shares it does not already own in its listed Peruvian subsidiaries, and said the offers...
SABMiller said today that "satisfactory growth" had helped deliver a 3% rise in basic earnings per share to 52.9 US cents in its first half of the year. The growth was on the back of a strong performa...
Coca-Cola Amatil has secured a deal to sell and distribute Maxxium Worldwide's spirits portfolio in Australia....
InBev will not be drawn on local reports suggesting that a proposed joint venture in India is on the edge of collapse. InBev, which has yet to establish a presence in the country, has reportedly dropp...
Coca-Cola Amatil has refused to be drawn on reports that it is mulling plans to develop a greenfields brewery in Sydney with SABMiller....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- just The Preview - Pernod Ricard's Q4 & FY
- Pernod Ricard's FY Performance by Region, Brand
- Comment - Hybrid Spirits: Innovation or Laziness?
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory
- Brown-Forman unveils Jack Daniel's UK push