Sales speed up at SABMiller, but volume growth wobbles

Beverages giant SABMiller, the company famous for Miller Lite and Foster's brands, said that trading in the third quarter was in line with expectations with revenue growth accelerating from the first six months of the year.

Beverages giant SABMiller, the company famous for Miller Lite and Foster's brands, said that trading in the third quarter was in line with expectations with revenue growth accelerating from the first six months of the year.

Reported revenues, which include the effect of acquisitions and disposals, increased by 17% year-on-year in the three months to December 31st 2012, well ahead of the 11% rise reported in the first half.

On an organic basis, which excludes acquisitions and disposals, this translated to growth of 8.0%, unchanged from the first half, cemented by selective price increase and improved brand mix in most region, the company said on Tuesday.

However, organic lager volumes for the quarter rose by just 2.0% on last year, below the 4.0% increase in the first half, as accelerating growth in its biggest market, Latin America, was offset by a slowdown in Europe, Africa and Asia Pacific.

In Europe specifically, the company said that lager volumes were affected by "depressed consumer confidence".

Meanwhile, SABMiller said that soft drinks volume growth on an organic basis fell from 6.0% to 3.0% over the quarter.

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021