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ANALYST VIEWS: WHAT DO YOU MAKE OF SABMILLER’S TRADING UPDATE AND THE COMPANY’S SHARE PRICE?

ANDREW BLAIN | SHORE CAPITAL
“SAB has issued something of a mixed trading update. For the 12 months to 31 March organic volumes were flat, which we view as unimpressive given the stock rating and association with emerging markets. However, this is marginally ahead of our forecast.”

SAM HART | CHARLES STANLEY
“These figures are pretty encouraging, especially the rise in beer volumes in the fourth quarter. The advances in emerging markets is also positive although Europe has been a bit soft. On the whole though a solid set of figures and heading in the right direction.”

CARL SHORT | S&P EQUITY RESEARCH
“While lager volumes in the US, Europe and South Africa fell on an organic basis in FY 10, volumes rose in Africa, Asia and Latin America – notably Colombia which is a key market for the group. But, in our view, trends in the US beer market could remain sluggish over the next 12 months.”