SABMiller sees Africa expansion pay off as continent booms

SABMiller’s Peroni brand is not as popular in South Africa as is the local Chibuku Super brand (Source: Getty)

SABMiller sales crept up in the last quarter as the world’s second largest beverage firm’s focus on African markets paid off it emerged yesterday.

The company recorded a two per cent increase in lager sales driven by strong demand in South Africa and a recovery in the Chinese market.

Africa saw total drink sales rise nine per cent, with net revenues for the region growing 12 per cent. The firm has focussed heavily on the continent this year, pushing its cheaper brands such as Chibuku Super and Impala.

In March, the company stated it is targeting 10 per cent plus revenue growth in the medium term for the region.

Read more: SABmiller sees Africa expansion pay off as continent booms | City A.M..