Africa and Latin America were the drivers of growth for SABMiller (SAB) in the first six months of the year, as sales in Australia and Asia Pacific weakened and lager volumes in Europe stagnated. Overall, group net producer revenue grew 5 per cent, at constant exchange rates and on an underlying basis, but volumes were up just 1 per cent.
IC TIP:
Hold
at
3282p
Trading is tough for SABMiller, but the global beverage giant is holding its own against a flat market and sluggish global economy. The shares are up 10 per cent on our sell tip, (2,992p, 10 Oct 2013), but have fallen since reaching a 10-year high in September, when we recommended readers sell out after the shares rallied on rumours of a potential merger/takeover with Heineken or Anheuser-Busch InBev.
