Emerging Markets Fuel Sales for SABMiller
LONDON (AP) — SABMiller PLC, one of the world's biggest brewers, says demand in emerging markets fueled sales in the third quarter, which ended Dec. 31.
Chief Executive Alan Clark says in a statement Tuesday that growth in Africa, Latin America and China helped overall revenue grow 4 percent despite weaknesses in the North American and European markets.
In terms of volume, revenue grew 2 percent.
The company says results were hurt by the depreciation of key currencies against the U.S. dollar, notably the South African rand, Australian dollar, Peruvian Nuevo sol and Colombian peso.
The company now has 200 brands and 70,000 employees in 75 countries. Its portfolio includes Pilsner Urquell, Miller Genuine Draft and Grolsch.
SABMiller is also one of the world's largest bottlers of Coca-Cola.