28th Jul 2006 11:30
SABMiller PLC28 July 2006 SABMiller plc AGM Trading Statement London and Johannesburg, 28 July 2006. At the Annual General Meeting ofSABMiller plc (SABMiller) today, Graham Mackay, chief executive, commented onthe group's performance for the three months ended 30 June 2006. The calculationof the organic growth rates included below excludes volumes for South Americawhich became part of the group in October 2005. Mr Mackay said: "The group continues to make progress, in line with expectationsat the time of our preliminary results announcement in May of this year, withfirst quarter organic lager volumes for the group growing by 7%. "In South Africa, lager volumes were up 3%, benefiting from the inclusion of anEaster trading period in the first quarter, and our premium brand portfoliocontinues to show strong growth. Soft drink volumes grew by some 4%. "In South America, the integration and investment programmes are proceeding asplanned. Buoyant trading conditions were experienced across the region andexcellent volume performances were recorded by all of our operations, leading toa 9% growth in lager volumes over the prior year on a pro forma basis. In Peru,the market continues to grow strongly in a competitive pricing environment. Both soft drink and beer volumes in Central America were up by 9%, reflectingeffective sales and marketing activities. "Our Europe business once again performed strongly and produced good resultswith organic lager volume growth of 6% reflecting the benefits of increasedmarketing investment and enhanced sales initiatives, particularly in Poland andRussia. "In North America, Miller's US domestic sales to retailers (STRs) decreased by2.4% compared to the prior year, and Miller Lite brand volumes were level. Thetrading environment remains highly competitive. "The Africa & Asia business achieved excellent organic growth of some 19% inlager volumes, with China continuing to record strong growth across all regions.In Africa (excluding Zimbabwe), lager volumes grew by almost 4%, with goodperformances in Mozambique and Uganda offset somewhat by Botswana, wheredisposable incomes remain under pressure. Ends Notes to editors: SABMiller plc is one of the world's largest brewers with brewing interests ordistribution agreements in over 60 countries across five continents. The group'sbrands include premium international beers such as Miller Genuine Draft, PeroniNastro Azzurro and Pilsner Urquell, as well as an exceptional range of marketleading local brands. Outside the USA, SABMiller plc is also one of the largestbottlers of Coca-Cola products in the world. In the year ended 31 March 2006, the group reported US$15,307 million in revenueand profit before tax of $2,453 million. SABMiller plc is listed on the Londonand Johannesburg stock exchanges. This announcement is available on the company website: www.sabmiller.com High resolution images are available for the media to view and download free ofcharge from: www.vismedia.co.uk Enquiries: SABMiller plc Tel: +44 20 7659 0100 Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0184 Gary Leibowitz Senior Vice President, Investor Relations Tel: +44 20 7659 0119 Nigel Fairbrass Head of Media Relations Tel: +44 7799 894265 This announcement does not constitute an offer to sell or issue or thesolicitation of an offer to buy or acquire securities of SABMiller plc (the"Company") or any of its affiliates in any jurisdiction or an inducement toenter into investment activity. This document includes "forward-looking statements". These statements maycontain the words "anticipate", "believe", "intend", "estimate", "expect" andwords of similar meaning. All statements other than statements of historicalfacts included in this announcement, including, without limitation, thoseregarding the Company's financial position, business strategy, plans andobjectives of management for future operations (including development plans andobjectives relating to the Company's products and services) are forward-lookingstatements. These forward-looking statements involve known and unknown risks,uncertainties and other important factors that could cause the actual results,performance or achievements of the Company to be materially different fromfuture results, performance or achievements expressed or implied by suchforward-looking statements. These forward-looking statements are based onnumerous assumptions regarding the Company's present and future businessstrategies and the environment in which the Company will operate in the future.These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminateany updates or revisions to any forward-looking statements contained in thisannouncement to reflect any change in the Company's expectations with regardthereto or any change in events, conditions or circumstances on which any suchstatement is based. Any information contained in this announcement on the price at which theCompany's securities have been bought or sold in the past, or on the yield onsuch securities, should not be relied upon as a guide to future performance. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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