GLOBAL: SABMiller lager volumes dip in Q1

By | 15 October 2009

SABMiller has reported a 1% dip in beer sales by volume for its first fiscal quarter, damaged by the effects of the global economic downturn in Eastern Europe.

SABMiller today (15 October) reported the slip in like-for-like volume sales for the three months to the end of September.

Volume sales tumbled 12% in Russia during the period, against a Russian market down 6%, as consumers "traded down" from high-end beers, said the UK-listed brewer, which owns Peroni Nastro Azzurro, Grolsch and Miller Genuine Draft. 

Total Europe volumes shrank 6%, compared to the same quarter of last year, with Poland down 4% and Czech Republic down 3%. Growth in Romania halved from 24% last year to 12% in the first quarter of this year.

Shares in SABMiller briefly fell on the London Stock Exchange this morning, from around GBP16.3 to GBP16.1, but had recovered lost ground to remain broadly even for the day by 0900 BST.

"Financial performance for the half year was in line with our expectations," said the group, adding that price rises helped it to "support revenue".

The brewer also saw volume declines for the quarter in the US, where its MillerCoors joint venture reported domestic sales to retailers down 1%. In South Africa, volume sales fell 3%.

However, there were gains of 3% and 9% in volume sales across the rest of Africa and in Asia respectively, with the latter region led by SABMiller's CR Snow joint venture in China.

The firm's global soft drinks sales rose 1% by volume for the quarter. 

For the full announcement, click here.

 

Sectors: Beer & cider, Soft drinks

Companies: SABMiller, Grolsch

View next/previous articles

Currently reading -

GLOBAL: SABMiller lager volumes dip in Q1

There are currently no comments on this article

Be the first to comment on this article

Related articles

INDIA: Carlsberg chills Anheuser-Busch InBev tie-up talk

Carlsberg has quelled speculation that it plans to work with Anheuser-Busch InBev in the fledgling Indian beer market.

The just-drinks Interview - Diageo's Head of Africa

Late last month, Diageo and Heineken officially opened a new brewery in South Africa. Among those attending the opening ceremony were Nick Blazquez, head of Diageo Africa, and Tom de Man, president of Africa and Middle East for Heineken. In a just-drinks African special this month, we have two interviews - the first of which sees Michelle Russell sit down with Blazquez.

Comment - Anadolu Efes poised for acquisitions?

Anadolu Efes has positioned itself for a key role in future brewing industry consolidation.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page