23rd Jul 2015 06:28
LONDON (Alliance News) - SABMiller PLC Thursday reported a drop in reported net producer revenue in the first quarter of its financial year, but said it grew on a constant currency basis, as volume growth was mixed in different geographic regions.
The brewer, which makes Grolsch, Peroni and Coors beers, said that reported net producer revenue in the quarter to June 30 declined 10% due to the depreciation of some currencies against the US dollar, but grew 3% on a constant currency basis.
Beverage volumes remained flat as good beverage volume growth in Latin America and Africa was offset by declines in Europe, Asia Pacific and North America, SABMiller said, adding that soft drinks volumes were up 4%, partly offset by a 1% decline in lager volumes.
"Both revenue and volumes grew strongly in Latin America and Africa in the quarter, tempered in particular by a challenging quarter in our key European markets where the trading environment remains difficult and softer volumes in China. We continue to make good progress in our strategy of driving top line growth which is reflected in the growth of revenue per hectolitre across our regions," Chief Executive Alan Clark said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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