Reuters: Two Emerging Markets Boost Beer Sales for SABMiller
Global brewer SABMiller reported a 3 percent rise in beer volumes in the last three months of 2011, as growth in African and Latin American markets helped offset falls in North America and Europe.
The world's second-largest brewer and maker of Miller Lite, Peroni and Grolsch also said on Thursday that beer price rises helped the group to push up its underlying revenue in its October-December third quarter by 7 percent.
The London-based group said overall its financial performance was in line with its expectations as price rises helped offset moderate rises in raw materials like barley, wheat and corn as analysts look for flat profit margins for its year.
However, beer volumes at its newly-acquired Foster's Australian business dipped 6 percent in the quarter and although not included in its overall figures showed the challenge faced by Foster's new chief Ari Mervis in such a difficult market.
SABMiller makes 70 percent of its profits in emerging markets and therefore has a lower exposure to flat western beer markets than its three big rivals Anheuser-Busch InBev, Heineken and Carlsberg.
For the full article, visit www.reuters.com.