SABMiller toasts 3% growth in sales

LONDON – Brewer SABMiller yesterday reported a three-per cent sales increase in the first 11 months of its fiscal year and said the situation at its US branch Miller had improved.

The group, formerly South African Breweries until it bought the Miller brand in 2002, said business has continued the momentum of organic growth achieved in the first half, with Miller and Central America posting financial performance above expectations in the second half to date. However, Miller sales to retailers for the 11 months to February were down 2,7 per cent on a pro-forma basis.This contrasted with the nine-month decline to December 2003, when such sales had decreased by 3,4 per cent.The group said the slowing of the volume decline trend can be attributed to continued growth in Miller Lite brand sales offset by some weaker performances elsewhere in the brand portfolio.Overall, the execution of the Miller turnaround strategy remains on track, the group added.The Africa and Asia business has delivered an increase of roughly three percent in organic lager volume over the prior year.The group also said Beer South Africa had increased volumes by nearly three percent on a comparable basis, and that its Amalgamated Beverage Industries arm had achieved carbonated soft drink volume growth of over seven per cent.In Central America, beer volumes have grown by around four per cent, whilst sales of carbonated soft drinks are down 4,5 per cent, which nonetheless reflected the slowing of a negative trend.Volumes in Europe remain strong, with year to date organic lager volumes some eight per cent above the prior year.- Nampa-AFPHowever, Miller sales to retailers for the 11 months to February were down 2,7 per cent on a pro-forma basis.This contrasted with the nine-month decline to December 2003, when such sales had decreased by 3,4 per cent.The group said the slowing of the volume decline trend can be attributed to continued growth in Miller Lite brand sales offset by some weaker performances elsewhere in the brand portfolio. Overall, the execution of the Miller turnaround strategy remains on track, the group added.The Africa and Asia business has delivered an increase of roughly three percent in organic lager volume over the prior year.The group also said Beer South Africa had increased volumes by nearly three percent on a comparable basis, and that its Amalgamated Beverage Industries arm had achieved carbonated soft drink volume growth of over seven per cent.In Central America, beer volumes have grown by around four per cent, whilst sales of carbonated soft drinks are down 4,5 per cent, which nonetheless reflected the slowing of a negative trend.Volumes in Europe remain strong, with year to date organic lager volumes some eight per cent above the prior year.- Nampa-AFP