SOUTH African Breweries’ (SAB) top- and bottom-line growth frothed over by double digits, following “record volumes” in the first quarter of its financial year.
Revenue increased by mid-teens in the three months to March 31, with revenue per hectolitre (hl) growth of high-single digits, driven by pricing actions and continued premiumisation, CEO Richard Rivett-Carnac said yesterday in a statement.
“Our performance was led by our premium portfolio, driven by Corona and Stella Artois,” he said.
Volumes grew by mid-single digits, which according to SAB’s estimates, meant it was continuing to outperform the industry in total alcohol, beer and in its Beyond Beer segments.
Earnings before interest, tax, depreciation and amortisation (Ebitda) grew by the mid-twenties, with margin expansion of approximately 350 basis points.
“In a tough economy we sustained our…