12th Oct 2005 07:00
SABMiller PLC12 October 2005 Ref: 18/2005 SABMiller plc Trading Update London and Johannesburg, 12 October 2005. Prior to the announcement of itsinterim results due in November, SABMiller plc has provided an update to thetrading statement made at the Company's AGM on 28 July 2005. The group's financial performance in the six-month period to 30 September 2005was in line with management's expectations, and organic growth of some 5% inlager volumes was recorded. In North America, Miller's US domestic sales to retailers (STRs) were down by0.3% against prior year in a trading environment that has become increasinglyprice-competitive and subject to higher input costs, both of which have affectedprofitability. STR growth in the Miller Lite franchise was offset by a netdecline in the STRs of other brands. Volumes of carbonated soft drinks (CSDs) in Central America were approximately3.5% above prior year with growth in both Honduras and El Salvador, whilst beervolumes were down some 7% principally as a result of excise increases in ElSalvador. Our Europe business has generated organic growth in lager volumes of 5%, with aparticularly pleasing performance in Poland complemented by more moderate growthin most other countries. The Africa and Asia business delivered an organic increase in comparable lagervolume of 13% over the prior year. This was driven by strong organic growth inChina, together with good growth in Mozambique and Tanzania. Our South Africa Beverages business benefited from the warm winter weatherduring the second quarter. Beer volumes over the six months grew by almost 3% ona comparable basis, reflecting good trading in recent months. The favourableweather conditions together with successful promotions during the winter monthsresulted in an increase in soft drink volumes of some 10%. Ends Notes to editors: SABMiller plc is one of the world's largest brewers, with 2004/05 lager volumesin excess of 148 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 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 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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