SABMiller has reported revenue growth of 8 per cent, in organic, constant currency terms, for the first half of 2012, but noted slowing demand in Latin America. The UK-based brewer saw total volumes rise 9 per cent, including the effect of acquisitions and disposals, with a 4 per cent increase in lager volumes on an organic basis. Soft drinks volumes for the six months were up 6 per cent higher for the comparable period last year and group revenue per hectolitre was up by 3 per cent, both on an organic basis.
The world’s second- biggest brewer relies on the emerging markets for around 70 per cent of revenue, and while lager volumes in Latin America rose by 4 per cent, compared to an 8 per cent increase in the same period last year. Its second quarter performance was impacted by "weaker consumer sentiment". In Central America lager volumes grew by 6 per cent.
Selective price reductions and the Euro 2012 football tournament boosted sales in Europe, with lager volumes were up 9 per cent on an organic basis, with Euro 2012 co-host Poland reporting volume growth of 10 per cent. Domestic volumes in the UK rose by 5 per cent, driven by continued growth of Peroni Nastro Azzurro.
"Robust" volume growth was reported in most African markets, with lager volumes increasing 6 per cent, on an organic basis. Zambia and Mozambique displayed particularly strong performances, with volume growth of 14 per cent and 10 per cent, respectively. A 25 per cent excise increase passed on to consumers in July in Tanzania was attributed to the 8 per cent decline in lager volumes in the half.
In the US, MillerCoors saw sales to wholesalers down 1.2 per cent in the first half, with sales to retailers dropping by 1.9 per cent. Both showed a further slowdown in the second quarter.
Senior Management ChangeThe brewer has recently appointed Catherine May as its new Director of Corporate Affairs. Having joined the group on 15 October, she is responsible for media, investor relations, political affairs, corporate affairs, corporate social responsibility and internal communications. As a member of SABMiller’s Executive Committee, she will report to Executive Chairman Graham Mackay.
May left her role as Corporate Affairs Director at Centrica plc, to take up the post and was previously Group Director of Corporate Relations at publishing group Reed Elsevier. She succeeds Sue Clark who was appointed as Managing Director of SABMiller Europe in June. (18 Oct)
© 2012 - ESM: European Supermarket Magazine
