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SABMiller: "I am delighted to report another year of significant progress and strong results"

(beveragemanager.net) - The company has reported strong profits, helped by strong growth in Latin America. The group delivered a strong financial performance. Group revenue grew by 11% (7% on an organic, constant currency basis) as a result of the higher volumes, selective price increases and higher growth in premium brands.

Total beverage volumes of 286 million hl were 4% ahead of the prior year on an organic basis, with lager volumes up 3%, soft drinks volumes up 7% and other alcoholic beverages up 4%.

In Europe EBITA declined by 6% (9% on an organic, constant currency basis), while lager volumes fell by 1% on an organic basis.

Asia Pacific lager volumes increased by 4% on an organic basis, with reported volumes significantly higher as a result both of the inclusion of Foster's since 16 December 2011 and of acquisitions in China.

SABMiller says raw material costs, including barley, glass and aluminium, will continue to rise this year.

"We will continue to develop and differentiate our brand portfolios, taking opportunities to improve sales mix and raise prices selectively. Unit input costs are expected to rise in mid-single digits in constant currency terms. Focus will be maintained on cost effectiveness, including synergy delivery in Australia, and on expanding our globally-managed procurement programmes," said Alan Clark, Managing Director, SABMiller Europe. (bmg)