SAB Miller reports rise in beer sales
SAB Miller, the world's third largest brewer, said that beer sales increased slightly in the first half of its financial year because rising demand in emerging markets offset falling sales from US and South African buyers.
SAB Miller, the world's third largest brewer, said that beer sales increased slightly in the first half of its financial year because rising demand in emerging markets offset falling sales from US and South African buyers.
The Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro brewer lagers said beer sales rose by 3% in the first half, and by 1% in the quarter ending on September 30.
Growth in beer sales was led by the brewer's entrance into new markets in Peru, Ecuador and Romania, where growth ranged from 10% to 24% year-on-year.
But the brewing giant admitted that deteriorating global economic conditions, weakening consumer demand and volatile exchange rates meant that it was not optimistic about the rest of the year.
Shares rose 1.2% to 982 pence in trading in London.
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