Peroni sales boost SAB Miller in UK

SAB Miller increased lager volumes 23% in the UK premium segment fuelled by the continued success of Peroni Nastro Azzurro.

Peroni grew volumes 21% over the full year with "significant" expansion of draught sales. It reported that premium portfolio volumes were also strong across the board and were particularly healthy in Miller Genuine Draft, Pilsner Urquell and Tyskie.

Overall, SABMiller has reported a rise in full year profit driven by strong growth in the emerging markets of Africa, Asia and Latin American, which offset tougher trading conditions in North America and Europe.

The company reported net profit for the 12 months to the end of March of $2.14bn, up from $1.91bn the previous year. EBITDA increased 15% to $5.04bn.

Revenue rose 7% to $28.3bn for the year to 31 March, with larger volumes up by 2% on the previous year. The group saw sales its African, Asian and Latin American businesses increase by 20%, 16% and 7% respectively.

In Europe, full year lager volumes declined by 3%, which the brewer said reflected, "difficult economic and industry conditions, including competitor discounting".

It said that it saw improving volume trends in the second half of the year in the region across most markets, "albeit compared to a relatively weak prior year base".

The brewer's sales in North America were flat in what it described as a "challenging market".

Chief Executive Graham Mackay said: "While consumer demand is likely to continue growing in most developing markets, there are uncertainties in the outlook for inflation and the pace of recovery in Europe and North America."