SABMiller's Q1 sales volumes rise 4%

[LONDON] SABMiller sold 4 per cent more lager in its most recent quarter than in the year ago period as momentum improved in the second half of its financial year.

The brewer of Miller Lite, Castle Lager and other beers said its revenue rose 7 per cent in the quarter ended March 31, with sales volume up 4 per cent. "We have had a strong year and increased momentum in the second half across all our regions notwithstanding economic volatility and the potential distraction of the AB InBev offer," SAB Chief Executive Alan Clark said in a statement.

The company gave no update about its pending acquisition by Anheuser-Busch InBev, which is expected to close in the second half of the year. The US$100 billion-plus deal - one of the biggest in corporate history - got one step closer last week when AB InBev agreed concessions with South Africa, whose competition commission was seen as one of the deal's last hurdles.

REUTERS