SABMiller sees turnaround in Europe in medium term
LONDON (Reuters) - SABMiller beer and soft drinks sales volume in Europe should recover and rise at a low single-digit rate over the next three to five years, helped by improvements in Poland and the Czech Republic, it said on Tuesday.
The maker of Peroni, Grolsch and other beers also forecast a low single-digit increase in revenue per hectolitre of drinks sold over the medium term, as it introduces premium-priced drinks in many markets.
SABMiller has seen declines in Europe for some time, as austerity measures and stubborn unemployment curb consumers' thirst for alcoholic beverages. In the quarter that ended December 31, European sales volume fell 2 percent. Revenue per hectolitre also fell as the company sold more cheaper beers.
Shares of SABMiller were up 1.6 percent at 1257 GMT, outperforming the broader market, which was up 0.8 percent.
(Reporting by Martinne Geller in London, editing by Louise Heavens)
