SABMiller’s performance affected by weaker Q2 trading conditions - CNBC Africa

SABMiller’s performance affected by weaker Q2 trading conditions

Earnings

by Trust Matsilele 0

SABMiller’s net producer revenue up five per cent up for the six months ended 30 September 2014. PHOTOS: Wikipedia

The world’s second largest brewing said it had performed well in the six months ended 30
September 2014.

Alan Clark, chief executive of SABMiller said in a statement that the group’s revenue was impacted by weaker lager volume performance.

“We achieved resilient net producer revenue growth in the first half, powered by our Africa and Latin America businesses,” said Clark.

(READ MORE: SABMiller performs well due to African and European markets)

“Our total beverage volume growth was impacted by weaker lager volume performance in the second quarter, balanced by strong growth in soft drinks. Financial performance has been affected by ongoing foreign currency movements as well as weaker second quarter trading conditions in China and Australia.”

The group announced net producer revenue (NPR) per hectolitre (hl) grew by three per cent, both on an organic, constant currency basis.

“For the second quarter, group NPR grew by three per cent and group NPR per hectolitre (hl) grew by four per cent, both on an organic, constant currency basis,” read the company statement.

[DATA SAB:SABMiller plc] also reported total beverage volumes growing by one per cent for the first six months on an organic basis, driven by strong performance across both lager and soft drinks in Latin America and Africa.

(READ MORE: SABMiller takes new spin on traditional beer image)

The group also realised improved growth in other economies outside South Africa.

“Positive NPR growth in the newly integrated Africa region driven by premium lager mix and soft drinks volume in the Africa region, now including the South Africa beverages business, group NPR grew by 10 per cent, underpinned by total beverage volume growth of five per cent, together with pricing and premiumisation in lager.”

Lager volumes grew by two per cent, while total soft drinks volumes grew by nine per cent driven by South Africa, Ghana, Nigeria and Zambia, and our associate, Castel. In South Africa, group NPR grew by 10 per cent. 

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