E-Malt.com News article: 2027

The world's second largest brewer, SABMiller plc, issued on January 13 the following trading update for the group's third quarter, which includes the peak South African December period, and for its financial year to date comprising the nine months ended 31 December 2003. Volumes for the third quarter were strong across most operations, SABMiller, known as South African Breweries before it bought Miller for $5.6 billion in 2002, said. Beer South Africa grew by almost 3% on a comparable basis, in line with year to date, and ABI achieved a volume growth of over 10%, with the year to date at around 8%. Sales in South Africa were assisted by generally good weather and higher consumer spending.

Miller's domestic sales to retailers (STRs) for the quarter were 1% below prior year, with the growth in Miller Lite largely offsetting weaknesses elsewhere. Domestic shipments to wholesalers (STWs) were in line with STRs. On a pro forma basis, year to date domestic STRs were 3.4% lower than prior year whilst total domestic STWs, as with the quarter, were in line with STRs. Beer volumes for the quarter, and year to date, have grown by 3% across the Central American operations, whilst carbonated soft drink (CSD) volumes were down 4%, against 6% year to date. Work continues on improving the CSD brand portfolio and on stimulating growth in beer consumption.

In Europe, organic lager volume growth for the third quarter was 7%, and 8% for the year to date. The integration of the Peroni acquisition is proceeding according to plan.

The Africa and Asia business delivered a 3% increase in organic lager volume over the third quarter of the prior year, in line with year to date.

These results accord with our expectations as outlined at the time of our interim announcement.

SABMiller plc is one of the world's largest brewers, with 2002/03 lager volumes in excess of 115 million hectolitres. It has a brewing presence in over 40 countries across four continents and a portfolio of strong brands and leading market shares in many of the countries in which it has brewing operations. Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola products in the world.

In the year ended 31 March 2003, the group generated US$770 million pre-tax profit from a turnover of US$9,112 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.


13 January, 2004