Member access

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  SABMiller plc    SAB   GB0004835483

SABMILLER PLC (SAB)

52
Delayed Quote. Delayed London Stock Exchange - 11/21 11:35:24 am
3470 GBp   +0.58%
2d ago Under Senate glare, Goldman rejects commodity manipulation
3d agoDJSTARWOOD'S POST-PC CEO : No Desk, No Desktop
3d ago Open up to our beer, EU to tell Japan in trade talks
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

SABMiller : MillerCoors Joint Venture Posts Rise In Net Income

08/06/2014 | 08:23am US/Eastern

LONDON (Alliance News) - SABMiller PLC and Molson Coors Brewing Co Wednesday said their MillerCoors joint venture saw net income increase in the second quarter as its Above Premium brands produced strong growth which offset small declines for its Premium Light lines.

Underlying net income was up 8% to USD445.7 million in the quarter to June 30, from USD412.7 million a year earlier. Total net sales were up 2.2% to USD2.21 billion, while its domestic net revenue per barrel was up 3.6%.

The brewer was given a boost by volume and value growth in the Above Premium segment, driven by its Redd's cider and Leinenkugel beer franchises. Redd's saw sales to retailers more than double in the quarter year-on-year. Leinenkugel saw high single-digit sales growth, while Blue Moon Belgian White beer posted low-single digit growth.

But the group saw its Tenth and Blake Beer Co lines post low-single digit declines in sales in the quarter year-on-year, but was up from the first quarter. The group also saw double-digit declines in its Henry Weinhard's line after it returned to being a regional brand.

In its Premium Light segment, sales to retailers were down low-single digits for both its Coors Light and Miller Lite lines.

The joint venture said cost savings amounted to USD40 million in the second quarter, mostly from procurement savings, brewery efficiencies and lower overheads.

SABMiller shares were down 0.3% on Wednesday afternoon to 3,162.50 pence.

Copyright 2014 Alliance News Limited. All Rights Reserved.

React to this article
Latest news on SABMILLER PLC
1h ago SABMILLER : Dancing with design that is deeply rooted in tradition
1d ago STANDARD CHARTERED : Barclays, StanChart Offers $70m Bailout Capital To SABMille..
2d ago Under Senate glare, Goldman rejects commodity manipulation
3d agoDJSTARWOOD'S POST-PC CEO : No Desk, No Desktop
3d ago Open up to our beer, EU to tell Japan in trade talks
4d ago SABMILLER : Seth is new md of sabmiller india
5d ago SABMILLER : Brewer follows trend to US premium beer
5d ago SABMILLER : delivers top-line and earnings growth
5d ago Soweto microbrewer aims to tap South Africa's 'black diamonds'
11/14DJMARKET SNAPSHOT : London Stock Exchange Boosts FTSE 100; SABMiller Turns Higher
Advertisement
Chart
Duration : Period :
SABMiller plc Technical Analysis Chart | SAB | GB0004835483 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF