SABMiller has reported an 11% rise in net producer revenue (NPR) in the UK in the six months to 30 September 2014, led by the continued growth of Peroni Nastro Azzurro with increased rate of sale, improved distribution in key outlets and assisted by good weather.
Across Europe, group NPR grew by 3%, driven by total beverage volume growth of 2%, with lager volumes level with the prior half year.
For lager volumes across Europe, the group said that a strong first quarter was assisted by cycling a soft volume comparative, followed by a more challenging second quarter, which was affected by poor weather across much of the region during the peak months.
For the first six months, the company said that total group NPR grew by 5% and group NPR per hectolitre grew by 3%, both on an organic, constant currency basis
For the second quarter, group NPR grew by 3% and group NPR per hectolitre grew by 4%, both on an organic, constant currency basis
It said that total beverage volumes grew by 1% for the first six months on an organic basis, driven by strong performance across both lager and soft drinks in Latin America and Africa
However, it reported ongoing top line weakness in Australia and softer second quarter lager volumes in China and Europe impacted by poor summer peak weather following growth in the first quarter.
Alan Clark, Chief Executive of SABMiller, said: “We achieved resilient net producer revenue growth in the first half, powered by our Africa and Latin America businesses. Our total beverage volume growth was impacted by weaker lager volume performance in the second quarter, balanced by strong growth in soft drinks. Financial performance has been affected by ongoing foreign currency movements as well as weaker second quarter trading conditions in China and Australia.”
