SABMiller beer volumes climb

LONDON – SABMiller’s underlying annual beer volumes rose five per cent with business strong in Europe and Asia as it expands further into China, it said on Wednesday.

US volumes were the only weak spot in the year to March 31, as the company had expected due to tough competition from Anheuser Busch, and the stock rose more than one per cent by mid-morning. SABMiller Plc , the world’s second-biggest brewer, said in a trading update that European lager volumes rose five per cent in the 12 months with strong performances from Poland, Russia and Romania.”We have seen pleasing volume growth across the group and we have also had group financial performance in line with our expectations,” Chief Financial Officer Malcolm Wyman said in a conference call.Miller sales to retailers in the United States were down one per cent in the year in a relatively weak pricing environment, but the Miller Lite brand continued to grow despite aggressive pricing by its main competitor, it said.Volume sales in South Africa grew by one per cent despite poor summer weather affecting drink volumes and the absence of two Easter trading periods that would normally add another percentage point to volume.South America lager volumes for the six months to March 31 were seven per cent above the prior year due to continued good growth in Colombia and a particularly strong volume performance in Peru in competitive market conditions, the group said.SABMiller operates in China via a 49 per cent owned venture called China Resources Snow Breweries Ltd., which runs 41 breweries across the country.Wyman said his company would continue its expansion into the world’s biggest beer market.- Nampa-ReutersSABMiller Plc , the world’s second-biggest brewer, said in a trading update that European lager volumes rose five per cent in the 12 months with strong performances from Poland, Russia and Romania.”We have seen pleasing volume growth across the group and we have also had group financial performance in line with our expectations,” Chief Financial Officer Malcolm Wyman said in a conference call.Miller sales to retailers in the United States were down one per cent in the year in a relatively weak pricing environment, but the Miller Lite brand continued to grow despite aggressive pricing by its main competitor, it said.Volume sales in South Africa grew by one per cent despite poor summer weather affecting drink volumes and the absence of two Easter trading periods that would normally add another percentage point to volume.South America lager volumes for the six months to March 31 were seven per cent above the prior year due to continued good growth in Colombia and a particularly strong volume performance in Peru in competitive market conditions, the group said.SABMiller operates in China via a 49 per cent owned venture called China Resources Snow Breweries Ltd., which runs 41 breweries across the country.Wyman said his company would continue its expansion into the world’s biggest beer market.- Nampa-Reuters