SABMiller sales rise on Latin American, African demand

Source: Coors Light | Facebook

Brewer SABMiller reported a rise in quarterly sales, helped by higher demand for beverages in Latin America and Africa, which were partly offset by declines in Europe.

The world's No. 2 brewer, with brands including Peroni, Grolsch and Pilsner Urquell, said revenue rose 3 percent in the three months to June 30, the first quarter of its new financial year.

Volume of lager, SABMiller's core business, declined 1 percent, while volume of soft drinks rose 4 percent.

"Both revenue and volumes grew strongly in Latin America and Africa in the quarter, tempered in particular by a challenging quarter in our key European markets, where the trading environment remains difficult, and softer volumes in China," Chief Executive Alan Clark said in a statement on Thursday.