News: Miller sales up but future in question

The brewer of Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro lagers – said beer sales increased slightly in the first half of its financial year, as rising demand from emerging markets canceled out slowing demand from established American and South African buyers. The world’s third-largest brewer said that beer sales rose 3 percent in the six months to Sept. 30, including a minimal 1 percent increase in the second quarter. The company does not report monetary figures or profit in its half-year trading update. The increase in beer sales was led by the brewer’s new markets of Peru, Ecuador and Romania, where growth ranged from 10 percent to 24 percent compared to a year earlier. But the company said was not confident about its near-term prospects. “Deteriorating global economic conditions, weakening consumer demand and volatile exchange rates make the prospects for the rest of the financial year increasingly uncertain,” said the trading update.

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