• Half-year net profits up 15% to US$1.97bn
  • Sales in six months to end of September rise 2% to $14bn
  • H1 operating profits (EBITA) flat at $3.3bn
  • Total voumes rise 1%, lager volumes slip 1%  
SABMiller reported a lift in first-half profits and sales

SABMiller reported a lift in first-half profits and sales

SABMiller has reported a healthy rise in first-half net profits but warned that trading conditions will remain "challenging". 

The London-headquartered group said today that it was boosted by its Latin America and Africa business, but held back by a weak Q2 in China and Australia. 

Lager volumes fell 1% as parts of Europe and Asia-Pacific saw slower sales, the group said. Soft drinks volumes were up 9%. 

Alan Clark, SABMiller's CEO said: 

“We continued to grow earnings in the first half with challenging trading conditions mitigated by ongoing efficiencies. Group net producer revenue was driven by lager growth in Africa and Latin America and strong performance in our soft drinks businesses in Africa, Latin America and Europe."

Looking ahead, the group added: "We anticipate that trading conditions will remain challenging but we expect to continue to grow volume and net producer revenue." 

Shares in SABMiller were this morning trading down 0.16% at GBP35.06

To read the company's full statement, click here