The news yesterday (22 July) that SABMiller’s Q1 volumes were down points to a tough three months for the brewer. After all, the period included almost three weeks of World Cup action – if a beer producer can’t sell its wares during the biggest sporting event on the planet, then something surely has to be amiss. Closer inspection of the firm’s first quarter, however, suggests that SABMiller actually had as good a Q1 as it could have hoped for. Indeed, as one analyst said yesterday: “(SABMiller) survived everything short of a locust plague”.
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