VENTURES AFRICA – SABMiller continues to record impressive growth of its soft drinks business across Africa, Latin America and Europe, Alan Clark, the CEO of the world’s second biggest brewer, said on Wednesday.
Clark made these comments as the company posted the results for the year-ended March 2015.
“Our confidence in the future of our soft drinks business was underlined by the agreement, announced in November 2014, to create Coca Cola Beverages Africa (CCBA),” said Clark.
“By consolidating activities such as procurement and back office services, and integrating our supply chain, we are reaping rewards.”
During the period under review, the group posted adjusted EBITDA of $ 6.677 million which was in line with the prior year.
The incorporation of SABMiller’s South Africa beverages business and the rest of Africa into one region is progressing well with benefits in innovation, distribution, sourcing and revenue management, the company said on Wednesday.
“We achieved positive momentum in our underlying business performance, particularly in the latter part of the year, with EBITA growth and margins expanding on an organic, constant currency basis. As flagged, the strengthening dollar against many of our operating currencies had a negative translational impact on reported results,” Clark said.