UK: SABMiller shrugs off falling US sales
SABMiller has today (12 April) reported a 5% rise in beer volumes during the 12 months to 31 March, despite falling sales in the US.
The London-listed brewing giant issued the trading update ahead of its full-year financial results next month. SABMiller said the volume growth - which excluded the performance from its Latin American arm, Bavaria - was in line with expectations.
Sales at Miller Brewing, however, dipped by 1%, although SABMiller pointed to growing sales of its Miller Lite brand, despite what it termed "aggressive pricing" on rival brand Bud Light.
SABMiller's operations in Poland, Russia and Romania drove a 5% rise in beer volumes in Europe, while "robust growth" in China pushed volumes from its Africa and Asia business up 14%.
The brewer added that a cool summer in South Africa had weighed on sales in its home market, which inched up 1%.
"We have seen pleasing volume growth across the group and we have also had group financial performance in line with our expectations," CFO Malcolm Wyman said in a conference call.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
Shares in the UK-based brewing group, Scottish & Newcastle (S&N), rose on the back of a rumour that the company has pulled out of the race to acquire the Colombian brewer, Bavaria, The Times has repor...
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
Bavaria has authorised a five-year syndicated loan of up to US$250m....
Kompania Piwowarska (KP) has posted its figures for the year to 31 March....
The Corporación Financiera Internacional (IFC), an investment arm of the World Bank, has acquired a stake in Empresarial Bavaria....
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
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