British brewer SABMiller Plc (SAB.L,SBMRY.PK) Monday said it targets further growth in beer volume and share gains in its Latin American division over the next 3 to 5 years. Latin America remains the biggest contributor to group profitability.
The company believes that it can continue to deliver mid-single digit volume growth and upper-single digit revenue growth for the foreseeable future. At an investor conference in London today, it will confirm its growth targets.
The Latin American division represented about 32 percent of group EBITA in the year to March, 2012. Latin America Lager volumes increased 8 percent on an organic basis, and soft drinks by 10 percent. In the year, the group reported EBITA of $5.63 billion and revenues of $31.39 billion.
Karl Lippert, president of SABMiller Latin America said, "The outlook for our Latin American markets remains positive. The work across our markets in making products affordable and accessible, simultaneously premiumising our portfolios and exciting consumers with innovative new offerings, continues to drive our business."
SABMiller noted that it has significantly grown the beer category's share of total alcohol consumed in Latin American markets. Beer consumption in its three largest markets comprising Colombia, Peru and Ecuador has grown to an average rate of 42 litres of beer per person, while consumption in reference markets like Venezuela, Panama, Brazil and Mexico, is still well below the levels, the company said.
According to the firm, about 80 percent of the population in its Latin American markets are considered low income consumers and hence aims to attract these consumers away from low quality local spirits by providing affordable alternatives in its portfolio.
In last November, the company had reported a 12 percent increase in pre-tax profit for the first half of the year, benefiting from selective price increases and positive brand mix amid strong performance in Latin America.
SABMiller shares are currently trading at 3,440 pence, up 24 pence or 0.70 percent, on a volume of 553,964 shares.
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