Latin America drags on SABMiller

SABMiller, the world’s second-biggest brewer, posted an expected 4 per cent rise in underlying first half beer volumes after growth across most other regions offset slowing demand in its key Latin American market.

By The Newsroom

Published 19th Oct 2012, 07:00 BST

Beer volumes in Latin America, which represents around 32 per cent of profit, grew by 4 per cent, down from 8 per cent in the same period a year ago with the firm reporting weaker consumer sentiment in recent months.

The Miller Lite, Grolsch and Peroni maker, which earns 70 per cent of its profit from fast-growing emerging markets, also reported an 8 per cent rise in organic, constant currency group revenue in the six months to September.

Including acquisitions and disposals, total volumes were up 9 per cent.

The 4 per cent underlying quarterly rise in beer volumes, after stripping out the effects of acquisitions, matched an analyst consensus forecast of 4 per cent and follows a 5 per cent volume rise in its first quarter.

The brewer also makes Castle, Snow, Pilsner Urquell and Aguila beer.