21st Apr 2016 06:29
LONDON (Alliance News) - SABMiller PLC on Thursday said it suffered a drop in group net production revenue in its recently-ended financial year but achieved growth in beverage volume, as it was once again hit by unfavourable foreign exchange rates.
The beer and soft drinks giant said total NPR fell by 8% in the year ended March 31, while beverage volume grew by 2%. On an organic constant currency basis, total NPR would have risen by 5%.
SABMiller said lager volume grew by 1%, as soft drinks volume increased by 6%, but NPR was once again hit by the depreciation of its key operating currencies against the dollar.
Geographically, Latin America and Africa performed strongly, while Asia Pacific, Europe and North America saw mixed performances.
SABMiller is in the process of being taken over Belgian-American drinks company Anheuser-Busch InBev SA in a GBP71.00 billion deal.
"We have had a strong year and increased momentum in the second half across all our regions notwithstanding economic volatility and the potential distraction of the AB InBev offer. Our results reflect our strategy to expand the beer category and to grow and premiumise our diverse brand portfolios," Chief Executive Alan Clark said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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