SABMiller toasts 3 percent growth in sales
SABMiller reported a three-percent sales increase in the first 11 months of its fiscal year and said the situation at its US branch Miller Brewing Co had improved. The group said that business has continued the momentum of organic growth achieved in the first half, with Miller and Central America posting financial performance above expectations in the second half to date.
However, Miller’s sales to retailers for the 11 months to February 2004 were down 2.7 percent on a pro-forma basis. This contrasted with the nine-month decline to December 2003, when sales had decreased by 3.4 percent.
The group said the slowing of the volume decline trend had to be attributed to continued growth in Miller Lite brand sales offset by some weaker performances elsewhere in the brand portfolio.....
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