23 January 2003
SABMiller plc Trading Statement
London and Johannesburg, 23 January 2003, SABMiller plc, the world's second
largest brewer by volume, today issued the following trading statement. This
updates the market on the group's third quarter, after the peak South African
Beer South Africa's volumes for the third quarter of the year were up 2.6%,
supported by a strong marketing effort, a more stable consumer environment and
favourable weather. Year to date volumes are now up some 1% over last year. The
good weather also helped ABI deliver third quarter volume growth of 5.9%, with
year to date growth of 6.9%. Reported earnings from all the South African
businesses for the nine months are ahead of prior year, assisted by improvement
in the rand dollar exchange rate during the third quarter.
Miller Brewing Company's domestic volumes, excluding contract brewing, remain
behind last year, down 3% for the six months since acquisition. Management focus
on a wide range of business areas and initiatives continues.
Competitive pricing pressures and a difficult economic environment are still
adversely affecting results from Central America.
Our European operations maintained the momentum of the first half, with volume
growth of 11.6% for the three months. Key brand performance for the quarter has
been pleasing with Pilsner Urquell up by 13.5% domestically and Miller Genuine
Draft volumes in Russia almost doubling.
Africa and Asia's performance continues in line with expectations with Africa
well ahead of prior year.
The group's objective of delivering real earnings per share growth for the full
year remains intact.
Notes to Editors:
SABMiller is the world's second largest brewer by volume with pro forma 2001/02
lager volumes in excess of 120 million hectolitres and is also the world's
leading brewer in developing markets. It has 115 brewing operations and over
69,000 employees, in 24 countries across Africa, Central and Eastern Europe,
North and Central America and Asia. It has a portfolio of strong brands and
leading market shares in many of the countries in which it has brewing
operations. Outside the USA, SABMiller is one of the largest bottlers of
Coca-Cola products in the world.
SABMiller is listed on the London and Johannesburg stock exchanges and has a
market capitalisation of US$6.7 billion (approximately R60 billion).
For further information:
Director of Communications, +44 (0) 20 7659 0119
SABMiller plc Mobile: +44 (0) 7880 502 755
Anna Miller Salzman
Head of Investor Relations, +44 (0) 20 7659 0106
SABMiller plc Mobile: +44 (0) 7973 837 070
Head of Corporate Communications, +44 (0) 20 7659 0120
SABMiller plc Mobile: +44 (0) 7979 954 493
This announcement is available on the company website, www.sabmiller.com
This information is provided by RNS
The company news service from the London Stock Exchange