SABMiller, the company who manufacturer world-renowned beers such as Fosters, Peroni and Grolsch are celebrating encouraging end-of-year results which saw revenue, profits and shares all rise, 11, 13 and 0.4 percent respectively.
The latest success sees the company’s revenue up to the £20 billion mark, and the growth is thought to be a result of increased drinking in Africa and Latin America of the SABMiller products. This seems to have more than offset the slight fall in popularity in Europe and North America.
Profit in Latin America, which now accounts for a third of SABMiller’s business, jumped 14 percent to $1.87 billion. Similarly, Africa saw sales growth of 16 percent, which is likely to make it the third most profitable region ahead of North America over the coming months.
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In the UK specifically, there seems to be an ongoing trend of continental beer indulgence, with Peroni joining the likes of San Miguel and Scandinavian brands as popular choices. This is despite the sometimes loftier prices which has seen Peroni reach as high as £5 a pint in the larger city chains.
However, SABMiller has claimed that, on the whole, their range of products are still more price competitive than their rivals', and that they have capitalised on this, in the midst of a general decline in alcohol sales in the country.
The eight percent jump in UK sales was especially strong against the nine percent decrease across the rest of Europe.
It is thought that the influx has stemmed from wealthier drinkers preferring the continental options such as Peroni to some of the local home-grown ales.
“In the UK, the dynamic seems to flow free from the economic situation...because it plays to the wealthier part of the market,” professed SABMiller Executive Chairman, Graham Mackay.
Overall, the foreceast prediction was topped significantly with a 55 percent rise in pre-tax profit, enhanced further by $1 billion of exceptional credits.