Brewer SABMiller has revealed in its full year trading update that strong performances in Africa and Asia boosted overall results.
The London-based maker of Peroni and Grolsch said that revenues for the 12 months to 31 March 2011 grew by five per cent, with lager volumes rising by two per cent. Within this, lager volumes in Africa increased by 13 per cent and in Asia by eight per cent.
However Latin American volumes remained level with the previous year, and fell in Europe by three per cent.
Africa’s impressive performance during the year was assisted by a particularly strong final quarter.
In Tanzania, lager volumes grew by five per cent, assisted by strong growth in the premium segment and by the new Mbeya brewery. In Uganda, volumes grew by 20 per cent, ahead of market growth. Mozambique volumes were up seven per cent, assisted by the Nampula brewery commissioning in the third quarter of the previous year. The new Luanda brewery in Angola contributed towards full year growth of 26 per cent; while Zambia’s lager volumes grew by 28 per cent.
In South Africa, lager volumes for the year grew two per cent as a result of brand improvements and increased consumer confidence, the company said.
Meanwhile, lager volumes in Asia grew by eight per cent in the fourth quarter and by 10 per cent for the year. There was full year lager volume growth of 10 per cent in both China and India.
SABMiller is the world's second largest brewer by volume, operational across six continents. For the year ending 31 March 2010, the group reported pre-tax profits of $3.8 billion and revenues of $26.3 million.
