Strong demand in emerging markets helped Peroni to Grolsch brewer SABMiller push sales higher in its latest quarter despite another tough time in Europe.
Pricing and volume growth in Africa, Latin America and China offset weaker performances in Europe and North America. Sales at the British drinks company grew by 4% in the three months to the end of December, compared to the same period in 2012.
In Latin America and Africa, sales rose by 5% and 8% respectively. Revenues grew 6% in Asia Pacific and by 7% in South Africa.
However, North American revenues added just 1%, while Europe posted a 6% decline on the back of challenging market conditions. Sales were described as "robust" in the UK as they were 9% higher, thanks to the popularity of Peroni. Overall volume rose 1% for beer and 7% for soft drinks.
CEO Alan Clark said growth in the third quarter was driven by SABMiller’s emerging-market businesses, "where we are successfully targeting new consumers through affordability and premiumisation initiatives across our brand portfolios".
"The combination of pricing and volume growth, particularly in Africa, Latin America and China, supported net producer revenue growth of 4%."
In December SABMiller's longtime chairman Graham Mackay passed away.
SAB shares were down 2% to 3,031 pence in early London trading, valuing the company at £48.7 billion.
© 2014 - European Supermarket Magazine by Enda Dowling
