SABMiller global beer volumes rise

LONDON – Global brewing giant SABMiller Plc said yesterday its half-year worldwide underlying beer volumes rose 11 per cent and its financial performance was in line with its own expectations.

The world’s number-two brewer and maker of Miller Lite, Peroni, Castle and Chinese Snow beers said growth in its half year (April-September) was driven by Latin America, Africa and Asia, and its European regions. SABMiller, which last week agreed with Molson Coors Brewing to combine their US operations in a venture to be called MillerCoors, had reported first-quarter (April-June) underlying volumes rose 13 per cent and then increased 11 per cent in the five months to end-August.The London-based brewer said the growth in revenue had been partly offset by higher input costs and increases in investment across the business.In Latin America, which earns a quarter of group profits after it bought Bavaria in October 2005, reported half-year volumes rose eight per cent, after a first-quarter 12 per cent rise.Its biggest Latin American market Colombia saw volumes up seven per cent with slower growth in the latter part of the half-year, while its second largest regional market, Peru, saw volumes up 10 per cent.In Europe, half-year volumes increased 12 per cent driven by Russia, Poland and Romania after a 17 per cent first-quarter rise.Europe provides 20 per cent of profits, from beers such as Polish Tyskie, Romanian Ursus and Czech Pilsner Urquell.In North America, half-year Miller sales to retailers were up 1,4 per cent after a 0,7 per cent fall in the first quarter but a 1,3 per cent rise in the five months to end-August.Its leading brand, Miller Lite, saw sales rise 2,1 per cent.Its Africa and Asia beer volumes rose 20 per cent after a first-quarter rise of 23 per cent, while in South Africa – its biggest profit centre with 33 per cent of group earnings – volumes rose two per cent after a first-quarter rise of four per cent.Nampa-ReutersSABMiller, which last week agreed with Molson Coors Brewing to combine their US operations in a venture to be called MillerCoors, had reported first-quarter (April-June) underlying volumes rose 13 per cent and then increased 11 per cent in the five months to end-August.The London-based brewer said the growth in revenue had been partly offset by higher input costs and increases in investment across the business.In Latin America, which earns a quarter of group profits after it bought Bavaria in October 2005, reported half-year volumes rose eight per cent, after a first-quarter 12 per cent rise.Its biggest Latin American market Colombia saw volumes up seven per cent with slower growth in the latter part of the half-year, while its second largest regional market, Peru, saw volumes up 10 per cent.In Europe, half-year volumes increased 12 per cent driven by Russia, Poland and Romania after a 17 per cent first-quarter rise.Europe provides 20 per cent of profits, from beers such as Polish Tyskie, Romanian Ursus and Czech Pilsner Urquell.In North America, half-year Miller sales to retailers were up 1,4 per cent after a 0,7 per cent fall in the first quarter but a 1,3 per cent rise in the five months to end-August.Its leading brand, Miller Lite, saw sales rise 2,1 per cent.Its Africa and Asia beer volumes rose 20 per cent after a first-quarter rise of 23 per cent, while in South Africa – its biggest profit centre with 33 per cent of group earnings – volumes rose two per cent after a first-quarter rise of four per cent.Nampa-Reuters