Fluctuating markets hit SABMiller global sales
SABMiller's chief executive, Graham Mackay, said lager volumes rose 7 per cent in Africa and 4 per cent in Asia but fell 9 per cent in Europe. In the United States, the MillerCoors joint venture reported a 2.4 per cent decline in sales to retailers. The figures exclude the impact of acquisitions and disposals.
"Recent excise-related price increases and, in the first two months, the timing of Easter, poor weather, and specific events in Poland and Colombia held volumes back in a number of key markets," Mackay said at the company's annual meeting.
"Overall, the financial performance of the group in the quarter was in line with our expectations," he added.