SABMiller full year results

22 May, 2014

SABMiller, one of the world’s largest beers, has reported group revenue up 1% to US$34 million and profits before tax $4.8m, up 3% for the year ending March 31.

Lager volumes were up 1% on both reported and organic bases with growth in Latin America, Africa and Asia Pacific partially offset by declines in Europe and North America, reports the company.

Chief executive Alan Clark said: “We have produced a resilient performance in the face of a number of headwinds, with organic, constant currency EBITA (earnings before interest, taxes and amortisation) growth of 7% and strong margin improvement. Group net producer revenue growth of 3% was led by our developing market businesses in Africa and Latin America, together with our associate in China, where we continued to build capacity, make selective price increases and grow our premium brand portfolios.

“We continue to deliver operational cost efficiencies including the completion of the business capability programme and have identified further areas where efficiencies can be targeted,” he said.

“As we look ahead, we will continue to innovate and rejuvenate our products, build on our position in growth markets, and increase the efficiency of our operations. With this approach I believe we are well placed to continue to deliver strong returns to shareholders,” said Clark.

Keywords: beer, sabmiller, lager

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