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Brewer SABMiller logs rising interim sales

LONDON, UK: Anglo-South African brewer SABMiller, which bought Foster's last year, on Thursday, 18 October 2012, posted rising first-half sales thanks to growth in emerging markets but flagged slowing demand in Latin America.

18 Oct 2012

Revenues, excluding acquisitions and disposals, and stripping out the impact of currency fluctuations, climbed 8% in the six months to September.

That compared with 6% growth in the same part of the group's previous financial year, it said in a trading update.

"Overall, financial performance for the half year was in line with our expectations," the company added.

SABMiller, which is listed in London and Johannesburg, produces well-known brands including Grolsch, Miller Lite, Peroni Nastro Azzuro and Pilsner Urquell.

"In Latin America lager volumes grew by 4.0%. While economic expansion continued across the region, this was at a more modest pace in the second quarter due to weaker consumer sentiment," it said in the statement.

The group added that European lager volumes rose 9.0%, driven partly by selective price reductions.

Turning to Asia, SABMiller also revealed that lager volumes in the Asia Pacific region grew by 5.0%.

However, including the Foster's acquisition and other deals in China, volumes soared by 17%.

Source: AFP

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