Price rises help SABMiller offset lower volumes

15th Oct 2009 07:04

Price rises helped brewing giant SABMiller perform in line with expectations in the six months to September 30 despite sales of lager falling by 1% in volume terms as consumers remained cautious across its markets.In Europe the firm, whose brands include Miller Genuine Draft and Grolsch, said lager volumes were down by 6% with weak performances from Russia, Romania and other Eastern European countries though in the UK volumes grew by 15% on a like-for-like basis 'in a weak market.'Latin American lager volumes fell by 1% as did those in the US where the company operates a joint venture with with Molson Coors Brewing under the name MillerCoors. South African volumes were 3% lower and the firm also lost market share, while in Asia lager volumes decreased by 9%.SABMiller's smaller range of soft drinks saw volumes climb by 1%.SABMiller's results come the day after fellow alcoholic drinks firm Diageo, whose brands include Guinness and Smirnoff, said sales in the three months to September 30 fell by 6% from the same period the previous year.