SABMiller lager volumes lifted by emerging markets

MADRID (MarketWatch) -- SABMiller PLC on Thursday reported lager volumes for the third quarter ended Dec. 31 rose 3% versus the prior year, with growth in all regions except Europe and North America. Soft drink volumes rose 6% with growth in all regions. Adjusted group sales rose 7% and group sales per hectoliter rose 3%, supported mainly by price benefits, with mix gains seen in all regions except Europe. Financial performance for the quarter was in line with expectations, SABMiller said. While lager volumes rose 8% in Latin America and an adjusted 7% in Asia Pacific, they fell 2% in Europe, with beer markets affected by "intense" competition and fragile economic conditions. Volumes in Poland and Romania fell 6% each on planned de-stocking and promotions, while volumes in Russia fell 6% in a "declining beer market." MillerCoors domestic sales to retailers fell 3.3% in the quarter on a trading-day adjusted basis, and premium light brand volumes fell by low single digits.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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