RNS Number : 3787D
22 March 2011
SABMiller raises expectations for Africa growth
At an investor seminar this morning, SABMiller updated its medium term guidance for its Africa division. Expectations for revenue per hectolitre growth have increased from a range of 1 to 3%, to a range of 3 to 5%, subject to currency fluctuations. Previous guidance for flat margins has now been revised to include a 0.8 to 1% increase on average per year over the next 3 to 4 years. Anticipated medium term compound annual volume growth in the high single digits remains unchanged.
Mark Bowman, SABMiller Managing Director said: "Over the past three to four years we have invested over US$1.5bn in capital expenditure, increasing our capacity and market penetration, in addition to taking us into several new markets through acquisitions. This investment is paying off and we are expecting to further cement our position as the leading brewer on the African continent."
About SABMiller Africa
SABMiller has primary brewing and beverage operations in 34 countries and is the number one brewer in terms of market share in most of these countries. In 16 of these countries it has management control, while in others it has a strategic alliance with Castel and a minority shareholding in Kenya and Zimbabwe. It bottles for The Coca-Cola Company in 20 of our African markets.
Some of the key local brands we won in Africa include: 2M, Castle lager, Castle Milk Stout, Chibuku (sorghum), Club Club Pilsner, Eagle (clear sorghum), Laurentina, Kilmanjaro, Mosi, Ndovu, Nile Special, Safari, Stone and St Louis.
About SABMiller plc
SABMiller plc is one of the world’s largest brewers with brewing interests and distribution agreements across six continents. The group’s wide portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the world's largest bottlers of Coca-Cola products.
In the year ended 31 March 2010, the group reported US$3,803 million adjusted pre-tax profit and group revenue of US$26,350 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
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