SABMiller plc, the London-based parent company of Miller Brewing Co., today reported a 15-percent jump in revenue to $10.8 billion for the six months of the year ending Sept. 30.
Milwaukee-based Miller's products continued to the surge. The flagship brand, Miller Lite, reported a 2.1 percent gain in sales, while its average case price increased 2.1 percent.
Meanwhile, SAB's sales increased 29 percent in Europe, 29 percent in Africa and Asia and 8 percent in Latin America.
Graham Mackay, chief executive officer of SABMiller, said, "This has been a good start to the year, demonstrating the strength of our brand portfolio and the health of our businesses. We have delivered another excellent performance in Europe, a pleasing return to growth in North America, and our Asian businesses have continued their momentum and made market share gains. At the second anniversary of our Bavaria transaction, our volumes have grown strongly in Latin America and our investment plans remain on track."
The company stated, "We have delivered a good first half performance, benefiting from the weighting of our portfolio of businesses towards emerging markets, and a focus on developing our premium brands. We are continuing to invest in our businesses to drive revenues, which, together with ongoing productivity gains, are offsetting industry wide cost pressures. We expect to make progress in the balance of the year but face a more challenging environment."
On Oct. 9, SABMiller and Molson Coors Brewing Company announced that they had signed a letter of intent to combine the U.S. and Puerto Rico operations of their respective subsidiaries, Miller and Coors, in a joint venture. Definitive agreements are expected to be signed in December 2007, but regulatory clearance is not expected before mid-2008.
Miller reports stronger beer sales
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