SABMiller’s annual results boosted by LatAm and Africa
25 May 2012
Seventy-percent of SABMiller’s annual profits came from emerging markets, particularly in Columbia, Peru, Tanzania and Zambia, according to its full-year results ending March 31.
The brewer’s annual earnings rose 12%, with pre-tax profits reaching $5.6bn. Group revenue was up 11% year-on-year to $31.4bn.
While beer consumption across Europe fell by 6% and remained fairly static in North America (+2%), the brewer delivered strong growth in Latin America (+15%) and Africa (+15%). In Asia-Pacific, the company reported growth of 247%.
“Through our successful marketing, portfolio development and commercial execution we continued to build on our position in the world's developing consumer economies,” says SABMiller chairman Meyer Kahn. “Strong profit growth continued, driven by an organic total volume increase of 4% and complemented by favourable mix and pricing.”
“We continued to expand our global footprint with the acquisition of Foster's, the merger of our Russian and Ukrainian businesses with Anadolu Efes in exchange for a stake in the enlarged business, and the further development of our alliance with Castel,” he adds.
SABMiller’s portfolio includes Grolsch, Peroni and Miller among others. Towards the end of 2011, the brewer acquired Fosters for $10.3bn, in a deal that gives it almost half of the Australian beer market.
Jenni Baker, London