SABMiller raises expectations for Africa growth

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At an investor seminar this morning, SABMiller updated its medium term guidance for its Africa division. Expectations for revenue per hectolitre growth have increased from a range of 1 to 3%, to a range of 3 to 5%, subject to currency fluctuations. Previous guidance for flat margins has now been revised to include a 0.8 to 1% increase on average per year over the next 3 to 4 years. Anticipated medium term compound annual volume growth in the high single digits remains unchanged.
Mark Bowman, SABMiller Managing Director said: “Over the past three to four years we have invested over US$1.5bn in capital expenditure, increasing our capacity and market penetration, in addition to taking us into several new markets through acquisitions. This investment is paying off and we are expecting to further cement our position as the leading brewer on the African continent.”