18th Jan 2006 07:01
SABMiller PLC18 January 2006 Ref: 02/2006 SABMiller plc Trading Update London and Johannesburg, 18 January 2006. Following the summer peak season inSouth Africa, SABMiller plc today issued its trading update for the group'sthird quarter and for the nine months ended 31 December 2005. The calculationof the organic growth rates included below excludes volumes for Bavaria SA whichbecame part of the group in October 2005. The group's organic lager volume growth for the third quarter was 1.8%, and 4.5%for the year to date. Volumes were impacted by cool and wet weather duringDecember in South Africa, and South Africa Beverages achieved a marginalincrease in beer volumes during the quarter, cycling the 4% growth reported inthe prior year's third quarter. Underlying economic performance and consumerconfidence in South Africa remain positive, contributing to further miximprovements. In South Africa, year to date beer volumes are up 1.8% on acomparable basis. Soft drink volumes were also impacted by the December weather,and a 4% increase was recorded in the quarter, with year to date growth of 7%. Miller's third quarter domestic sales to retailers (STRs) were 1.0% below prioryear when adjusted for the reduced number of trading days in the quarter (down2.5% unadjusted) in a market that was characterized by intense competitivepricing pressure. For the year to date, Miller's domestic STRs declined 0.4%(0.9% unadjusted). Despite strong prior year comparables, retail sales offlagship brand Miller Lite have continued to grow. The transaction with Bavaria SA closed on 12 October 2005. On a pro forma basis,South America lager volumes for the three months to 31 December 2005 were some7% above the prior year, in line with our expectations at the time of thetransaction. This performance reflects continuing growth in Colombia and robustgrowth in Peru, despite including two fewer public holidays over the Christmasperiod in the current year. In Central America, carbonated soft drink volumes were up 6%, and 4% year todate, with growth being achieved in both countries. Beer volumes were 7% lowerin the quarter, consistent with year to date trading, principally as a result ofthe excise increase in El Salvador. In Europe, organic lager volume growth for the third quarter was 4%, in linewith the year to date, influenced by continuing good performances from Poland,Russia and Romania. Lager volume growth was recorded in both Africa and Asia, and overall a 12%organic increase on a comparable basis was delivered, in line with year to date,following strong growth in China. The group's financial performance has been in line with our expectations asoutlined at the time of our interim results announcement. 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 2005, the group reported US$2,194 million pre-taxprofit and a turnover of US$14,543 million. SABMiller plc is listed on theLondon and 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 Vice President, Investor Relations Tel: +44 20 7659 0174 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 priceat which the Company's securities have been bought or sold in the past, or onthe yield on such securities, should not be relied upon as a guide to futureperformance. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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