Mixed results
SABMiller has reported a 4 percent increase in beer sales for the 11 months to the end of February this year. Its trading statement shows a further slowdown in the U.S. and an acceleration of the decline in Central America. In Europe results were mixed. The markets were concerned about a potential bid for Bavaria and Topvar in Slovakia as well as Altria selling its stake in SABMiller in June this year.
In the U.S. beer market, which contributes 25 percent to group EBIT, growth in Miller Lite slowed because of strong comparables to last year.
European lager volumes grew almost 5 percent, with strong results from Poland, Russia and Romania, offset in part by weaknesses in Italy, Hungary and Slovakia. This implies total volume decline of 5 percent..
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