In one of the least important earnings releases imaginable, SABMiller revealed today that net producer revenue grew by 2% across the three months to the end of June.
Chief executive, Alan Clark, said: “This was another quarter of good underlying momentum for our subsidiaries, with continued delivery of our strategic priorities; in particular Europe, South Africa, Colombia, Peru and Australia delivered good growth.
“Our performance was tempered by a more challenging quarter in some markets in the rest of Africa, where volume was negatively impacted by economic volatility and challenging trading conditions. We also continued to face trading headwinds in our associates’ and joint ventures’ key markets such as China, Angola and the USA.”
Connor Campbell, a senior market analyst at www.spreadex.com, told Beer Today: “Of course, SAB could have sent out a blank piece of paper as its latest release and it wouldn’t have mattered given the fact that, at the same time, the US Justice Department approved the company’s takeover by AB InBev as SAB agreed to relinquish its ownership of the MillerCoors brand.”
