SABMiller benefited from Euro 2012 football tournament

Like its rival AB-InBev, SABMiller’s western European sales volumes in the quarter ended June 2012 suffered from a combination of poor weather and weak economic conditions. However, on an organic basis (excluding the impact of acquisitions and disposals), lager volumes for the group were 5 percent ahead of the prior year for the quarter, the brewer reported on 26 July 2012.

“Soft drinks volumes were 6 percent higher than the prior year for the quarter on an organic basis. Organically, constant currency group revenue grew by 8 percent for the quarter, with group revenue per hl up by 3 percent on the same basis, reflecting selective price increases and improved mix in most regions. Including the effect of acquisitions and disposals, total volumes were up 10 percent compared with the corresponding quarter of the prior year. The group’s financial performance for the quarter was in line with our expectations”, the brewer said in a statement.

In Europe, lager volumes were up 7 percent on an organic basis. In Poland, volumes were up 11 percent as the market benefited from the Euro 2012 tournament, SABMiller announced.

In the U.S., MillerCoors’ domestic sales to retailers were down 1.4 percent in the quarter.

Africa again delivered a strong performance, SABMiller said, with lager volume growth of 9 percent on an organic basis. Only South Africa underwhelmed with lager volume growth of only 1 percent against a backdrop of slowing consumer spending.

Despite the recent criticism surrounding the previously announced board changes, SABMiller pushed ahead as planned. At the Annual General Meeting on 26 July 2012, Meyer Kahn retired as Chairman after 46 years of service with the group. Former CEO Graham Mackay was named Executive Chairman. He will become Non-Executive Chairman at the Annual General Meeting in 2013. Alan Clark was appointed as Chief Operating Officer with the intention that he will succeed Mr Mackay as CEO next year.