LONDON (dpa-AFX) - British brewer SABMiller Plc (SAB.L, SBMRY.PK) Thursday said its first-quarter net producer revenue or NPR, as well as beverage volumes increased from last year, helped by strong growth in Africa and Europe. The group stated that its financial performance is in line with expectations.
In a trading update, SABMiller said its NPR for the quarter grew 6 percent and NPR per hectolitre or hl improved 3 percent, both on an organic, constant currency basis.
Total beverage volumes for the quarter improved 3 percent on an organic basis, with 1 percent rise in lager volumes, driven by China, Europe and Africa.
Soft drinks volumes climbed 10 percent on an organic basis, benefited by strong growth in Latin America, Europe, South Africa and Africa.
Alan Clark, chief executive of the company said, 'Strong growth in Africa, South Africa and Europe was balanced by slower momentum in North America and a reduction in NPR in Australia in difficult trading conditions.'
In Africa, group NPR grew 11 percent, driven by pricing and total beverage volume growth of 5 percent, Lager volume was up 3 percent and soft drinks volume grew 9 percent.
South Africa Beverages group NPR climbed 12 percent, and total beverage volume growth was 6 percent. Lager volume improved 4 percent from last year.
The company saw 8 percent NPR growth in Europe, driven by total beverage volume increase of 5 percent, with lager volumes rising 3 percent. In Asia Pacific, Group NPR edged up 1 percent during the quarter.
NPR increased 3 percent in North America, driven by MillerCoors' group NPR growth of 2 percent. US domestic sales volume to retailers declined 1.2 percent from last year.
According to the firm, Latin America performed well despite a number of one-off trading restrictions in Colombia. In Latin America, NPR grew 5 percent, and total beverage volumes increased 2 percent from the previous year.
SAB.L is currently trading at 3,366.50 pence, up 0.03 percent.
Copyright RTT News/dpa-AFX