UK: SABMiller shrugs off US woes
SABMiller has given a trading update for the three months to the end of June.
The global brewer said today (28 July) that it is in line with forecasts it made two months ago. Organic lager volume in the quarter - which did not include South America's performance - was up by 7% on the year.
In North America, however, the company took a hammering, with domestic sales to retailers sliding by 2.4%. Miller Lite brand volumes were level in the period. "The trading environment remains highly competitive," said company chief executive Graham Mackay.
In spite of this, volumes in South Africa were up in the quarter by 3%, while soft drinks volumes grew by 4%. Europe also performed well, bringing in organic lager growth of 6%, with Poland and Russia performing strongly. China was also noted for recording robust growth.
"In South America, the integration and investment programmes are proceeding as planned," Mackay noted. "Buoyant trading conditions were experienced across the region and excellent volume performances were recorded by all of our operations, leading to a 9% growth in lager volumes over the prior year on a pro forma basis.
"Both soft drink and beer volumes in Central America were up by 9%, reflecting effective sales and marketing activities," he added.
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