18th Jan 2005 07:00
SABMiller PLC18 January 2005 Ref: 02/2005 SABMiller plc January Trading Update London and Johannesburg, 18 January 2005. Following the summer peak season inSouth Africa, SABMiller plc today issued the following trading update for thegroup's third quarter and for its financial year to date comprising the ninemonths ended 31 December 2004. The group's volume growth for the third quarter was strong, with organic growthof some 5% in total lager beer volumes. Beer South Africa volumes grew by 4% ona comparable basis, in line with year to date. ABI achieved a volume growth of6%, against year to date growth of 7%. South African volume growth was supportedby good weather and continuing robust consumer spending. Miller's domestic sales to retailers (STRs) were 0.3% below prior year for thequarter, in a weak industry trading environment, which resulted in an increasein market share. Miller Lite sales, although cycling higher year-on-yearcomparables, continued to grow in line with our expectations. Domestic STRs forthe year to date were 1.5% higher than prior year. Domestic shipments towholesalers (STWs) were in line with STRs on both a quarterly and year to datebasis. In Central America, trade purchases ahead of an anticipated excise increasecontributed to a 3% growth in beer volumes in the quarter, and to 2% year todate. Carbonated soft drink volumes were down 8%, against 6% year to date,reflecting tough market conditions in El Salvador. In Europe, organic lager volume growth for the third quarter was 6%, and 5% forthe year to date, influenced by continuing strong performances from Poland,Russia and Romania, which more than offset weakness in Italy, Hungary andSlovakia. Good growth in both Africa and Asia led to the business delivering a 10%increase, on a comparable basis, in organic lager volume over the third quarterof the prior year, in line with year to date growth. The group has continued the momentum of organic growth achieved in the firsthalf of its financial year, and the financial performance has been in line withour expectations as outlined at the time of our interim results announcement. Ends Notes to Editors SABMiller plc is one of the world's largest brewers, with 2003/04 lager volumesin excess of 137 million hectolitres. It has a brewing presence in over 40countries across four continents and a portfolio of strong brands and leadingmarket shares in many of the countries in which it has brewing operations.Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Colaproducts in the world. In the year ended 31 March 2004, the group generated US$1,391 million pre-taxprofit from a turnover of US$12,645 million. SABMiller plc is listed on theLondon and Johannesburg stock exchanges. Enquiries: SABMiller plc Tel: +44 20 7659 0100 Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0171 Mob: +44 7850 285471 Gary Leibowitz Vice President, Investor Relations Tel: +44 20 7659 0119 Mob: +44 7717 428540 Nigel Fairbrass Head of Corporate Communications Tel: +44 20 7659 0105 (Finance) Mob: +44 7799 894265 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 Visit www.thenewsmarket.com/SABMiller to download broadcast-standard MPEG2 videoor order a Beta SP tape. Registration and video is free and available foraccredited journalists and news producers. 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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