24th Jul 2014 08:38
LONDON (Alliance News) - SABMiller PLC said Thursday that its financial performance remains in line with expectations as net producer revenue and total beverage volumes rose in its first quarter with strong growth Africa, South Africa and Europe balanced by slower momentum in North America.
In an interim management statement for the first quarter to June 30, 2014 the brewing giant said group net producer revenue was up 6% and group net producer revenue per hectolitre rose 3%, both on an organic, constant currency basis.
Total beverage volumes rose 3% during the quarter on an organic basis, with lager volumes recording a 1% rise on an organic basis, driven by China Europe and Africa.
Volumes in its soft drinks business also rose, up 10% on an organic basis, reflecting strong growth in Latin America, Europe, South Africa and Africa, said SABMiller.
The growth in net producer revenues has been achieved through building local and global flagship brands across SABMiller's footprint, said CEO Alan Clark, with innovations and improved trade execution also proving important.
SABMiller said strong growth in Africa, South Africa and Europe was balanced by slower momentum in North America and a reduction in NPR in Australia in difficult trading conditions while Latin America performed well despite a number of one-off trading restrictions in Colombia.
Looking ahead the FTSE 100-listed company said that its financial performance remains in line with expectations.
SABMiller shares were trading 0.43% higher at 3,379.5 pence per share Thursday morning, amongst the biggest gainers on the FTSE 100.
By Alice Attwood; [email protected]; @AliceAtAlliance
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