New markets push SABMiller revenues up

PERONI beer sales helped SABMiller’s volumes grow eight per cent in the UK, offsetting a one per cent decline across Europe.

The brewing giant behind Miller Lite and Grolsch grew revenues seven per cent in the year to 31 March, boosted by strong performances in emerging markets.

Lager sales in Latin America increased by eight per cent, including a 26 per cent surge in Colombia, while SABMiller grew its lager volumes in Africa by 13 per cent.

But sales in Europe fell by one per cent, dragged down by declines of four and eight per cent in Poland and Romania respectively.

Overall, underlying beer volumes grew three per cent in both the full year and the fourth quarter, despite a four per cent quarterly sales drop at Foster’s, SABMiller’s newly acquired Australian beer.

Shares fell one per cent to £26.03.