SAB Miller has reported a 3% increase in third-quarter lager volumes despite declining sales in Europe.
The brewer of Peroni and Grolsch said growth in the three months to 31 December came thanks to emerging markets, where 70% of its profits are now generated.
Latin America and Africa led the growth, with volumes up by 8% and 11% respectively. By contrast, lager volumes in Europe slid by 2% over the same period.
“Beer markets remain affected by intense competition, which continued to negatively impact mix, as well as fragile economic conditions,” said SAB Miller of the European market.