16th Apr 2015 06:18
LONDON (Alliance News) - Brewing giant SABMiller PLC Thursday said revenue rose 4% in its recently-ended financial year, after growth accelerated in the fourth quarter thanks partly to double-digit growth in Africa and a return to lager volume growth in China.
The brewer of brands including Grolsch, Peroni, Coors Light and Bulmers cider said group net producer revenue for the year to end-March rose 4% and beverage volume growth was 1%, helped by an improvement in the fiscal fourth quarter when revenue grew 6% and lager volume grew 2%.
Stagnant lager sales for most of the year due to weaker demand in emerging markets was offset by strong growth in soft drink sales, with volumes of these up 8% in both the fourth quarter and the year as a whole.
However, SABMiller's lager brands returned to growth in the fourth quarter led by strong growth in South Africa and a return to growth in China.
By Steve McGrath; [email protected]; @stevemcgrath1
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