• H1 group net sales up 4% 
  • Volumes up 2% in six months to end of September
  • H1 growth driven by Latin American, Africa, South Africa 
  • “Confident” in long-term growth prospects 
SABMiller saw strong sales in Africa and China

SABMiller saw strong sales in Africa and China

A strong performance in Africa and signs of improvement in Europe and North America has seen SABMiller deliver a single-digit rise in first-half sales. 

The London-headquartered brewer said earlier today (17 October) that net sales in the six months to the end of September rose by 4%. Total volumes increased by 2% on an organic basis in the period, with lager volumes up 1% and soft drinks volumes up 5%. 

The company pointed to its strong trading in Africa, where sales increased by 11% in the six months, against a volume rise of 7%. In Asia-Pacific, growth was driven by China, with sales up 14% in the country on a constant currency basis. In South Africa, sales rose 7%, while in Latin America sales grew 5%. 

In Europe, however, sales fell by 1% as the region remains a “challenging environment”, the group said. In the US, in its MillerCoors business, sales to retailers fell by 3.2% in the first half. 

However, chief executive Alan Clark said: “Following a challenging start to the year, trading conditions in Europe and North America saw a modest improvement in the second quarter, although the consumer environments here are expected to remain under pressure.” 

Looking ahead, he added: “Despite current prevailing uncertainties about developing market economies, we remain confident in the long term growth prospects for the group.”

Shares in SABMiller were trading up by 4% today at GBP31.64.

To read the company's official statement, click here.

To read coverage of an analyst's note on these results, click here