SABMiller Fiscal Year South Africa Lager Volumes Ease, But Africa Grows
20 4월 2010 - 4:07PM
Dow Jones News
Beer giant SABMiller PLC (SAB.JO) said Tuesday lager volumes in
South Africa, long a stronghold for the company, dipped 1% in the
last fiscal year but increased 6% for the rest of the continent on
an organic basis.
The company said volumes eased in a South African market that
grew slightly in the last year, although volumes were 8% higher in
the final quarter. SABMiller, which traces its origins back to
Castle Lager which was launched in South Africa in 1895, faces
increasing pressure from rival Heineken NV (HEIA.AE) which recently
opened a brewery in the country with partners Diageo PLC (DEO) and
Namibian Breweries Ltd. (NBS.WH).
"Consumer spending remained subdued, but our lager sales during
the [fourth] quarter benefited from increased investment behind our
core brands, strong trade execution and the favorable timing of
Easter," the company said.
Soft drinks volumes rose 4% in the final quarter, but declined
2% for the financial year, SABMiller said.
In the rest of Africa, lager volumes increased 6% and soft drink
volumes 4% organically for the year, the company said.
In Mozambique, lager volumes were up 11% while volumes in Uganda
grew 24% for the year, which it said was assisted by additional
capacity and sustained economic growth in the country. In Angola,
lager volumes were up 5% on the year thanks to additional capacity
but hampered by production and logistical constraints, it said.
Volumes in Tanzania fell 4% for the year, in line with the
market, following unseasonable weather earlier in the year. It said
that Botswana continues to be hit by a tax on alcohol introduced in
November 2008, and full-year lager volumes were down 35%.
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com