SABMiller Achieves Global Growth Despite U.S. SoftnessApril 16, 2015
SABMiller achieved volume and revenue growth in its recently completed fiscal year, even as it endured depletion declines in the U.S. market. For the 12 months ended March 31, the brewing giant’s global volume rose by 1%, while a favorable pricing mix drove a net revenue gain of 4%. Gains were particularly strong in Africa, where revenue grew by 9%—thanks largely to the company’s South African business—and Latin America, where revenue was up 7%.
In North America, SABMiller’s revenue was flat, as a 2.7% drop-off in depletions in the U.S. was offset by a favorable price mix. Depletions of both Coors Light and Miller Lite declined by low-single digits, according to SABMiller (the two brands are marketed in the U.S. by MillerCoors, the joint venture between SABMiller and Molson Coors, in which SABMiller owns a 58% stake), while the Redd’s franchise enjoyed double-digit growth.
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