28 July 2005
SABMiller plc AGM Trading Statement
London and Johannesburg, 28 July 2005. At the Annual General Meeting of
SABMiller plc (SABMiller) today, Graham Mackay, chief executive of SABMiller,
commented on the group's overall performance for the three months ended 30 June
Mr Mackay said: 'The group has achieved a good start to the financial year, with
the financial and volume performance for the first quarter to 30 June being in
line with our expectations at the time of our preliminary results announcement
in May of this year. All of our major businesses have contributed towards an
increase in adjusted earnings per share for this period when compared with the
'In North America, Miller's US domestic sales to retailers (STRs) increased by
1.0% over the prior year, reflecting the continued growth of the Miller Lite
brand in a weak and competitive industry trading environment. Miller Lite
performance was partially offset by a net reduction in the volume of other
brands but within these the Milwaukee's Best and High Life franchises achieved
'Total regional beverage volumes in Central America were in line with the prior
year. However, as expected, excise and competitive pressures continued to impact
our beer business, with volumes lower than the prior year.
'Our Europe business has produced good results with organic lager growth of
some 6% across the division. Most of our European operations have seen volume
and share growth in the quarter led by Poland and driven primarily by marketing
and sales initiatives.
'The Africa & Asia business achieved organic growth in lager volume of some 15%,
principally due to improved trading conditions in certain of our China regions
and in Tanzania and Mozambique. In Africa, our lager volumes grew, despite the
Botswana currency devaluation, and the business continues to post volume growth
in carbonated soft drinks.
'In South Africa, beer volumes were in line with the prior year on a comparable
basis (adjusting for the transfer of management responsibility to the Africa
division for exports to Angola during 2004) despite poor trading conditions in
April, which were subsequently off-set by improved trading in May and June.
April's volume performance was also impacted by the absence of an Easter period.
Soft drinks volumes showed strong growth, rising by some 6% during the period.'
Notes to editors:
SABMiller plc is one of the world's largest brewers, with 2004/05 lager volumes
in excess of 148 million hectolitres. It has a brewing presence in over 40
countries across four continents and a portfolio of strong brands and leading
market shares in many of the countries in which it has brewing operations.
Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola
products in the world.
In the year ended 31 March 2005, the group generated US$2,194 million pre-tax
profit from a turnover of US$14,543 million. SABMiller plc is listed on the
London and Johannesburg stock exchanges.
This announcement is available on the company website: www.sabmiller.com
High resolution images are available for the media to view and download free of
charge from: www.vismedia.co.uk
SABMiller plc Tel: +44 20 7659 0100
Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0184
Gary Leibowitz Vice President, Investor Relations Tel: +44 20 7659 0174
Nigel Fairbrass Head of Media Relations Tel: +44 7799 894265
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
'Company') or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This document includes 'forward-looking statements'. These statements may
contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company's products and services) are forward-looking
statements. These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements. These forward-looking statements are based on
numerous assumptions regarding the Company's present and future business
strategies and the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this announcement.
The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Company's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.
Any information contained in this announcement on the price at which the
Company's securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.
This information is provided by RNS
The company news service from the London Stock Exchange