FMCG News South Africa

SABMiller group net producer revenue hit by currency movements

SABMiller (SAB) on Tuesday reported a decline in interim revenue as key operating currencies depreciated against the US dollar.

On a reported basis, group net producer revenue declined by 9% for the six months ended 30 September 2015.

Alan Clark
Alan Clark

"While adverse currency movements have materially impacted our reported results, we have a strong business with exceptional long-term prospects. Our strategic priority of driving superior top line growth through strengthening our brand portfolios and expanding the beer category is showing clear results," said chief executive Alan Clark.

The brewer is in an offer period.

Late in September, Anheuser-Busch InBev NV approached SABMiller PLC about a takeover, paving the way for a deal that would likely value SAB well in excess of its $75bn market capitalisation and create a brewing giant that would dominate much of the global beer market.

AB InBev and SAB are the world's two largest brewing companies.

SAB said that, in order to ensure the timely release of trading information to the market during the offer period, it had brought forward the release of its interim trading update.

Source: BDpro

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