SAB Miller attributes beer sales growth to ‘innovative’ products
SAB Miller has announced a small rise in annual profits, with innovation in the beer brewer’s subsidiary, Miller Brands UK (MBUK), helping it to outperform the overall UK beer market.
During the 12 months to the end of March 2014, the maker of Peroni and Miller reported EBITA growth of 1 per cent, while MBUK ’s domestic lager volumes grew by 5 per cent compared to the overall beer market in the UK which was almost level with the prior year, declining by less than 1 per cent.
Lager volumes were up 1 per cent on both reported and organic bases with growth in Latin America, Africa and Asia Pacific partially offset by declines in Europe and North America.
Alan Clark, chief executive of SABMiller, said: “We have produced a resilient performance in the face of a number of headwinds…. We continue to deliver operational cost efficiencies including the completion of the business capability programme and have identified further areas where efficiencies can be targeted.
“As we look ahead, we will continue to innovate and rejuvenate our products, build on our position in growth markets, and increase the efficiency of our operations. With this approach I believe we are well placed to continue to deliver strong returns to shareholders.”
SAB Miller also announced the launch of the Piccola, a smaller bottled version of flagship brand Peroni aimed at the “pre-dinner drinks occasion”.