SABMiller sees revenue and margin growth - CNBC Africa

SABMiller sees revenue and margin growth

Earnings

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Alan Clark, the chief executive officer of SABMiller. PHOTO: SABMiller

Group revenue, which includes the group's share of associates' and joint ventures' revenue, increased from 17.4 billion US dollars for the six months ended 30 September 2012 to 17.5 billion US dollars in 2013.

“We have continued to deliver on the potential of our businesses in both developed and developing markets, with revenue and margin improvements amid mixed trading conditions. We have improved the reach of our mainstream brands across most regions,” said [DATA SAB:SABMiller] chief executive Alan Clark.   

“Through initiatives such as the launch of Redd's Apple Ale in the USA, the momentum behind Castle Lite across Africa, and the increasing appeal of Peroni Nastro Azzurro from Europe to Australia, we are strengthening our premium propositions across the group and evolving our high-end brand portfolios to appeal to an ever wider range of consumers and drinking occasions.”

Revenue, excluding the group's share of associates' and joint ventures' revenue however, decreased by two per cent from 11.3 billion US dollars in 2012 to 11.1 billion US dollars in 2013.

Earnings before interest, taxation and amortisation rose four per cent from 3.1 billion US dollars in 2012 to 3.2 billion US dollars in 2013 and profit before tax was up seven per cent from 2.2 billion US dollars to 2.4 billion US dollars.

Adjusted earnings per share increased by three per cent from 117.3 US cents in 2012 to 120.4 cents in 2013 and an interim dividend per share of 25 US cents was declared.

“Trading conditions are expected to remain broadly unchanged, with growth continuing to be driven by our developing markets. The depreciation of key currencies against the US dollar will adversely impact reported results in the current financial year. Development of our brand and pack portfolios will continue, as we seek opportunities to reach new consumers and enhance the beer category,” said Clark.  

“Price increases will be taken selectively and focus will remain on premiumisation. Raw material unit input costs are expected to rise in low to mid-single digits in constant currency terms. Investment in production capacity and capability will continue to drive growth along with strong commercial execution of existing and new consumer offerings.”

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