SAB Miller improves guidance for Africa
on 24/03/11 at 9:19 amIndustry
SAB Miller has increased its medium term guidance for its Africa division following significant capital investment in 2009 and 2010.
Expectations for growth in revenue per hectolitre have increased from a range of 1 to 3 per cent to between 3 and 5 per cent.
The Africa division has already grown substantially in recent years. Clear beer volume has more than doubled in a decade and Africa (excluding South Africa) now accounts for about 11 per cent of group revenue.
Now SAB Miller has positioned itself for significant further expansion. Over the past three to four years the company has invested over $1.5bn in capital, with the bulk of that money spent in FY 2009 and 2010.
Mark Bowman, managing director at SABMiller Africa, said capacity and market penetration has increased and several new markets have opened up through acquisitions.