SABMiller beer brand Peroni

SABMiller’s first quarter global drinks volumes grew by 3%, driven by increased demand in South Africa and the African region.

The Peroni maker’s total beverage volumes grew by 3% on an organic basis in the first quarter ended 30 June, while lager grew by 1% organically, driven by China, Europe and Africa.

The stand out performer was the company’s soft drinks category, with volumes growing by 10% on an organic basis.

Overally volumes grew by 5% in African, 6% in South Africa, but fell 2% in North America.

Chief executive Clark commented: “We continued to drive strong NPR (net producer revenues) growth across our businesses. This has been achieved through our prolonged success in building local and global flagship brands across our broad geographic footprint, together with innovations and improved trade execution.”

“Strong growth in Africa, South Africa and Europe was balanced by slower momentum in North America and a reduction in NPR in Australia in difficult trading conditions. Latin America performed well despite a number of one-off trading restrictions in Colombia.”

Group NPR grew by 6% and group NPR per hectolitre grew by 3%, both on an organic, constant currency basis.

The company added that the group’s financial performance is in line with expectations.

The brewer released a trading update ahead of its AGM where it may face a shareholder revolt over executive pay.

Activist shareholder group Pirc has advised investors to vote against the company’s remuneration policy because of a “highly excessive” potential bonus payout for Clark.