| Thu 23 Sep 2004, 8:20 | | SABMILLER PLC - TRADING UPDATE |
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SABMILLER PLC - TRADING UPDATE
SABMILLER PLC
JSE ALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMILLER PLC TRADING UPDATE
London and Johannesburg, 23 September 2004. Prior to the
announcement of its interim results due in November and ahead of
the Miller investor presentations on September 27 and 28,
SABMiller plc has provided an update to the trading statement made
at the Company`s AGM on 29 July 2004.
Group financial performance in the five-month period to 31 August
2004 was strong, and earnings growth was recorded in all of our
businesses. For the same period, the group`s organic lager volume
growth was over 4%.
In North America, Miller`s US domestic sales to retailers (STRs)
increased by 2% for the period to mid September, with growth in
the Miller Lite franchise being partially offset by reductions in
other brands. Financial performance has benefited from favourable
brand mix and price increases.
While beer volumes in Central America remain largely unchanged,
volumes of carbonated soft drinks (CSD) were some 5% below prior
year, reflecting continuing price-based competition in the market.
The business continues to benefit from previous cost
rationalisation activities and selective price increases in both
beer and CSDs.
Our Europe business produced satisfactory results, with organic
lager growth of 3%. In addition to continued volume growth in
Russia and Romania, the second quarter`s volume trends in the key
markets of Poland and Czech are better than in the first quarter,
partially offset by weakness in Italy and Hungary.
The Africa and Asia business delivered a pleasing increase in
organic lager volume of 9% over the prior year, reflecting growth
in China against a comparable period impacted by SARS, and growth
in key African markets.
In South Africa, beer volumes have grown by some 4%, with further
gains in share of the total liquor market. At ABI, CSD volumes
were up by 7% over the prior year. Strong operating performances
have been enhanced by favourable currency movements.
Ends
Notes to editors:
SABMiller plc is one of the world`s largest brewers, with 2003/04
lager volumes in excess of 137 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 2004, the group generated US$1,391
million pre-tax profit from a turnover of US$12,645 million.
SABMiller plc is listed on the London and Johannesburg stock
exchanges.
Enquiries:
SABMiller plc Tel: +44 20 7659 0100
Sue Clark Director of Corporate Tel: +44 20 7659 0184
Affairs
Gary Leibowitz Vice President, Investor Mob: +44 7717 428540
Relations
Mat Dunn Investor Relations Senior Tel: +44 20 7659 0194
Manager
Nigel Fairbrass Head of Corporate Tel: +44 20 7659 0105
Communications (Finance) Mob: +44 7799 894265
This announcement is available on the company website.
www.sabmiller.com
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.
Date: 23/09/2004 08:00:06 AM Produced by the JSE SENS Department
