SABMiller benefits from growing demand for beer in Africa

Global brewer SABMiller reported on 17 April 2013 that it saw a 7 percent rise in its full year organic revenue (until end March 2013), boosted by strong demand in Africa and a surprisingly resilient demand in Europe.

In Africa full-year lager volumes have grown 6 percent on an organic basis. In the final quarter (January through March) sales were up 9 percent.

However, lager volumes in Latin America dropped 1 percent in the final quarter, hit by softer economic conditions and a price increase in some markets.

Europe proved to be more resilient than expected, with new “brand and pack innovations” more than compensating for the tough economic conditions there. Lager volumes were up 6 percent on an organic basis in the full year, and 3 percent in the final quarter.

Warmer weather in China helped the company to post an improved performance in the fourth quarter after the country’s coldest winter in 28 years hit demand in the third quarter.

The group, which operates in over 75 countries, said overall full year lager volumes were up 3 percent in the year and 4 percent in the quarter. Overall financial performance was in line with expectations.

SABMiller will publish full year results on 23 May 2013.