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Weak Europe, soft China countered by LatAm, Africa in Q1 for SABMiller

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  • Group sales in Q1 rise 3%, volumes flat
  • Europe sales in first quarter down by 4%
  • Volumes in three months to end of June down in Asia Pacific, Europe, North America
  • Latin America, Africa steady ship in sales and volumes

SABMiller has flagged a "difficult" Europe and a "softer" China as hampering performance in its latest fiscal first-quarter.

Europe struggled in the first quarter for SABMiller

Europe struggled in the first quarter for SABMiller

In a trading update earlier today, group sales (net producer revenue) in the three months to the end of June were reported as being up by 3% on the corresponding period a year earlier, in organic terms. Volumes in the period were flat.

The quarterly sales performance marks an improvement on the brewer's last full-year, when value dipped by 0.8% and volumes fell by 1.8%.

For a look at SABMiller's performance in regional terms, click here

In Europe, sales fell by 4% in value and by 6% in volumes. A weak performance in China meant Asia Pacific sales rose by only 4% on a 3% dip in volumes.

North America posted flat sales as volumes decreased by 2%.

Latin America and Africa, however, posted stronger numbers. LatAm was up by 6% in sales and by 5% in volumes, while Africa increased sales by 7% and volumes by 4%.

Alan Clark, CEO, said: "Both revenue and volumes grew strongly in Latin America and Africa in the quarter, tempered in particular by a challenging quarter in our key European markets where the trading environment remains difficult and softer volumes in China.

"We continue to make good progress in our strategy of driving top-line growth which is reflected in the growth of revenue per hectolitre across our regions."

SABMiller will release a Q2 update on 15 October, with full half-year numbers following on 12 November.


Sectors: Beer & cider, Company results

Companies: SABMiller

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