Emerging Markets Boost SAB Miller
Published on Dec 12 2012 3:01 PM in General Industry
SAB Miller has recorded a significant increase in its operating profits, with a growth of 15.7 per cent to €1.47 billion. Growth in Latin America, Asia and Africa combined to boost the fortunes of the world’s second largest brewer, which makes – amongst others – Grolsch, Peroni and Miller Lite. The manufacturer recorded volume increases of four per cent in Latin America, 17 per cent in Asia and five per cent in Africa. Growth in Europe and America was more sluggish with revenues rising just one per cent and three per cent respectively. SAB Miller’s executive chairman Greg Mackay said that ongoing demand in emerging markets had helped to offset challenging economic conditions in Europe and the US. “A lot of eastern Europe is struggling, especially the Czech Republic and Poland, while consumer sentiment is not really strong in Australia, either,” he said. While also reporting strong emerging market growth, the world’s largest brewer Anheuser-Busch InBev similarly said that volumes in Europe were falling due to the prevailing economic climate.