Vladimír Urbánek (Kurzy.cz)
World markets  |  October 18, 2012 10:42:29

Results for 1H12 SABMiller failed to meet expectations in some areas


World number two brewer, SABMiller global concern, for the first half of this year, reported organic revenue growth of 4%, which fell short of market expectations set at about 4.4%. In 1Q growth reached 5% level.
Sales growth in Latin America reached a level of 4%, in Africa there was 6%, which fell short in both cases below market expectations set at 5.5 and 8.5% respectively. Sales in Europe rose in the first half by 9%, which significantly exceeded calculating estimates with growth of 6%. European sales support from prices and growing demand for cheaper brands.
The sharp decline in sales and a 13% saw Australia, a negative effect of a smaller number of days and the expiration of the protection of certain licensed products.
Sales in Asia excluding Foster's Group by SABMiller bought last year, increased by 5% compared to an estimated 7%.
Sales in South Africa increased by 1%, which is filled with market expectations.

Total sales of the group in the first half excluding the impact of acquisitions and currency movements grew by 8%.

According to the company's management were overall financial performance of the group in accordance with company estimates.

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