It's hardly been a sparkling year for SABMiller, the world's second largest brewer. Underlying lager volumes were flat over the year, and only because of a 2 per cent recovery in the final quarter thanks to favourable timing of Easter
IC TIP:
Hold
at
1980p
In fact, market conditions remained difficult in the US and Europe, where lager volumes declined 5 per cent on an organic basis. And growth in its emerging markets was not exactly runaway: Latin American volumes climbed 3 per cent, while Chinese growth began to slow in the second half. The group also said the all-important benefit of price increases was waning.
When: 27 August 2009
Price: 1,324p
