DOCSLIB.ORG

Annual Report 2015 Report Annual

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2015 Report Annual WorldReginfo - d6258d3a-643e-4759-9c4e-6a17ac1d69d4 - WorldReginfo SABMiller plc SABMiller Annual Report 2015 SABMiller plc Annual Report 2015 We are in the beer and soft drinks business. We bring refreshment and sociability to millions of people all over the world who enjoy our drinks. We do business in a way that improves livelihoods and helps build communities. We are passionate about brewing and have a long tradition of craftsmanship, making superb beer from high quality natural ingredients. We are local beer experts. We have more than 200 local beers, from which we have carefully selected and nurtured a range of special regional and global brands. Performance highlights Group net producer revenue1 Revenue3 EBITA4 EBITA margin progression -2% -1% -1% 0basis points 2015: US$26,288m 2015: US$22,130m 2015: US$6,367m 2015: 24.2% 2014: US$26,719m 2014: US$22,311m 2014 5: US$6,460m 2014: 24.2% 2 2 2 +5% +6% +6% +30 basis points2 Beverage volumes Profit before tax Adjusted EPS6 Dividends per share7 +2% 0% -1% +8% 2015: 324m hectolitres 2015: US$4,830m 2015: 239.1 US cents 2015: 113.0 US cents 2014: 318m hectolitres 2014: US$4,823m 2014: 242.0 US cents 2014: 105.0 US cents Water usage (beer)8 Net debt9 Free cash flow10 Total shareholder return11 -6% -27% +26% 121% 2015: 3.3 hl/hl 2015: US$10,465m 2015: US$3,233m Peer median: 85% 2014: 3.5 hl/hl 2014: US$14,303m 2014: US$2,563m 1 Group net producer revenue (NPR) is defined on page 188 and includes the group’s 6 A reconciliation of adjusted earnings to the statutory measure of profit attributable to equity attributable share of associates’ and joint ventures’ net producer revenue of shareholders is provided in note 8 to the consolidated financial statements. US$9,754 million (2014: US$10,015 million). 7 The 2015 final dividend is subject to shareholder approval at the annual general meeting. 2 Growth on an organic, constant currency basis. 8 Water usage is defined on page 189. 3 Revenue excludes the group’s attributable share of associates’ and joint ventures’ 9 Net debt comprises gross debt (including borrowings, financing derivative financial revenue but includes excise duties and similar taxes. instruments, overdrafts and finance leases) net of cash and cash equivalents (excluding 4 Note 2 to the consolidated financial statements provides a reconciliation of operating profit overdrafts). An analysis of net debt is provided in note 27c to the consolidated financial to EBITA which is defined as operating profit before exceptional items and amortisation statements. of intangible assets (excluding computer software) and includes the group’s share of 10 Note 27b to the consolidated financial statements provides a reconciliation of net cash associates’ and joint ventures’ operating profit, on a similar basis. As described in the from operating activities to free cash flow. finance review, EBITA is used throughout this report. 11 Total shareholder return (TSR) is shown as the percentage growth in our TSR over the 5 Certain comparative figures have been restated as a result of changes in accounting five years to 31 March 2015. standards implemented in the year. Further details are provided in the finance review. WorldReginfo - d6258d3a-643e-4759-9c4e-6a17ac1d69d4 The strategic report and directors’ report have been approved for and on behalf of the board of SABMiller plc Africa p22 on 2 June 2015. Africa’s strong local portfolio, Alan Clark affordable brands and Chief Executive premiumisation helped to deliver impressive results. Strategic report Strategic Contents Latin America p18 What’s inside Strategic report Growth in premium and above mainstream Performance highlights Ifc lager and soft drinks underpinned good Business overview 2 results in Latin America. Chairman’s statement 4 Chief Executive’s review 6 Our business model 12 Market overview 14 Europe p30 Key performance indicators 15 Principal risks 16 Innovation and Operations review improved sales Latin America 18 Governance execution boosted Africa 22 European group Asia Pacifi c 26 NPR despite Europe 30 continued economic North America 34 uncertainty. Finance review 38 Sustainable development 46 North America p34 Valuing and empowering our people 50 Asia Pacifi c p26 Improved group NPR per Governance hectolitre and reduced fi xed Board of directors 52 Premiumisation in China and Australia costs helped offset lower Executive committee 54 helped mitigate economic headwinds volumes in North America. Corporate governance 56 and weaker demand. Audit committee report 70 Directors’ remuneration report 74 statements Financial Directors’ report 97 Financial statements Independent auditors’ report to the members of SABMiller plc 102 Consolidated income statement 107 Consolidated statement of comprehensive income 108 Consolidated balance sheet 109 Consolidated cash fl ow statement 110 Consolidated statement of changes in equity 111 Notes to the consolidated fi nancial statements 112 information Shareholder Balance sheet of SABMiller plc 176 Notes to the company fi nancial statements 177 Five-year fi nancial review 186 Defi nitions 188 Further information Key to further reading: Shareholder information This report covers the fi nancial year Read more on p age referenced Ordinary sharehold ing analyses 190 ended 31 March 2015. It is also available Shareholders’ diary 190 on our website as a downloadable PDF Read more online Administration 191 www.sabmiller.com/annualreport2015 Cautionary statement 192 Read more in the referenced report For more detailed information about SABMiller please refer to our website www.sabmiller.com/investors SABMiller plc Our Approach to Tax 2015 SABMiller plc Annual Report 2015 1 WorldReginfo - d6258d3a-643e-4759-9c4e-6a17ac1d69d4 Strategic report Business overview SABMiller by numbers US$6,367m Group EBITA (20141: US$6,460m). 8% Soft drinks volume growth. 72% The proportion of EBITA from developing markets. EBITA by region2 % Latin America 35% US$2,224m Africa 29% US$1,907m 35% ¹ Restated. Asia Pacifi c 12% 2 Before Corporate costs and South Africa: US$768m Absolute reduction in Hotels and Gaming. Europe 11% carbon emissions from 3 Subsidiaries only, excluding home markets, US$700m on a constant currency basis. on-site energy use North America 4 Subsidiaries only, excluding home markets. US$858m 13% between 2008 and 2015. We have a balanced spread of businesses with a signifi cant presence in developing markets Latin America Africa Where we operate Where we operate Regional offi ce: Miami, USA Regional offi ce: Johannesburg, Our primary brewing and beverage South Africa operations cover six countries across On 1 July 2014, SABMiller’s South African South and Central America (Colombia, and African regions were consolidated Ecuador, El Salvador, Honduras, into one region. Our primary brewing Panama and Peru). and beverage operations in Africa cover 17 countries including Botswana, What we do Mozambique, Nigeria, South Africa, • In each of these countries we are the Tanzania, Uganda and Zambia. A further number one brewer by market share. 21 are covered through our associate • We have a brewery in Argentina, and interests in the Castel group’s African we export to Chile and Paraguay. beverage businesses and we also have • We produce soft drinks across the an associated undertaking in Zimbabwe. region including Coca-Cola products in El Salvador and Honduras. What we do • In most of these countries we are the Read more on p age 18 number one brewer by market share. • We produce Coca-Cola products in 23 of our African markets (with Castel in 15 of these markets and through our associated undertaking in Zimbabwe). Read more on p age 22 2 SABMiller plc Annual Report 2015 WorldReginfo - d6258d3a-643e-4759-9c4e-6a17ac1d69d4 140,000 94% report Strategic Every minute of every day, more than The proportion of our total #1 140,000 bottles of SABMiller beer are lager volume from markets in enjoyed around the world. which we have no 1. or no. 2 national market share positions. #2 Lager volumes level year on year. Our global brands are Peroni Nastro Azzurro, 69,000 25% Miller Genuine Draft, Pilsner Urquell and Grolsch. EBITA from +16% associates and NPR joint ventures. growth3 SABMiller has almost 69,000 +11% employees and is in more Volume than 80 countries. growth4 Asia Pacifi c Europe North America Where we operate Where we operate Where we operate Regional offi ce: Hong Kong Regional offi ce: Zug, Switzerland Regional offi ce: Chicago, USA Our brewing interests across Asia Pacifi c Our primary brewing operations cover eight MillerCoors is a joint venture with Molson cover four countries: Australia, China, countries – the Czech Republic, Hungary, Coors Brewing Company, which was India and Vietnam. Italy, Poland, Romania, Slovakia, Spain formed in 2008 by bringing together (Canary Islands) and the Netherlands. the US and Puerto Rican operations What we do of both groups. What we do • CR Snow, our partnership of more than • In the majority of these countries we What we do 20 years with China Resources Enterprise, are the number one or two brewer by • MillerCoors is the second largest brewer Limited, is the largest brewer in China. market share. in the USA, with 27% of the beer market. • Carlton & United Breweries (CUB) is • We cover a further 16 countries including • Our wholly-owned Miller Brewing the second largest Australian brewer. Russia, Turkey and Ukraine in a strategic International business is based in • We are the second largest brewer alliance with Anadolu Efes through Milwaukee, USA and exports our brands in India. brewing, soft drinks and export operations. to Canada and Mexico and throughout • We have a brewery in Vietnam, and we • We export signifi cant volumes to a further the Americas. export to numerous markets including seven European markets, of which the South Korea. largest are the UK and Germany.
Load more

Recommended publications
  • SAB 201406240040A Annual Financial Report Sabmiller Plc
    SAB 201406240040A Annual Financial Report SABMiller plc JSEALPHA CODE: SAB ISIN CODE: SOSAB ISIN CODE: GB0004835483 Annual Financial Report SABMiller plc has today submitted a copy of the 2014 Annual Report and Accounts, Notice of the 2014 Annual General Meeting and Shareholder Proxy Form (UK) to the National Storage Mechanism and they will shortly be available for inspection at www.hemscott.com/nsm.do. The Annual Report and Notice of Annual General Meeting are also available on the Company’s website www.sabmiller.com SABMiller plc’s Annual General Meeting will be held on Thursday, 24 July 2014 at the InterContinental London Park Lane, One Hamilton Place, Park Lane, London W1J 7QY. A condensed set of SABMiller’s financial statements and information on important events that have occurred during the financial year and their impact on the financial statements were included in SABMiller’s preliminary results announcement released on 22 May 2014. That information, together with the information set out below, which is extracted from the 2014 Annual Report, constitutes the material required by Disclosure and Transparency Rule 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service. This announcement is not a substitute for reading the full 2014 Annual Report. Page numbers and cross- references in the extracted information below refer to page numbers and sections in the 2014 Annual Report. PRINCIPAL RISKS AND UNCERTAINTIES (page 18 & 19) Principal risks Focused on managing our risks The principal risks facing the group and considered by the board are detailed below. The group’s well-developed risk management process is described in the corporate governance section while financial risks are discussed in the Chief Financial Officer’s review on page 39 and in note 21 to the consolidated financial statements.
    [Show full text]
  • The Structure-Conduct-Performance Paradigm and the Beer Industry in Zimbabwe
    Vol-2, Issue-4 PP. 735-741 ISSN: 2394-5788 THE STRUCTURE-CONDUCT-PERFORMANCE PARADIGM AND THE BEER INDUSTRY IN ZIMBABWE Clainos Chidoko and Rose Constancia Sakuhuni & Shylet Mufandaedza Faculty of Commerce, Department of Economics, Great Zimbabwe University, Box 1235, Masvingo, Zimbabwe Abstract The beer industry has the greater market share owned by the informal sector which holds a larger share of home brew market. To investigate the beer industry the study utilized the Structure-Conduct –Performance paradigm to link the structure of the market, the conduct of the firms in the market and their economic performance. The results show that Zimbabwe’s beer industry has a competitive market structure and high levels of industrial concentration in commercial produced beer. Low-end beer industry in Zimbabwe has low entry barriers resulting in plenty of low-end beer business and low quality of products, which determine the fierce competition of the market. Key words: S-C-P paradigm, Beer industry, Concentration, Causal relationship, Market structure, Informal. Contribution/Originality This is one of few studies which have made an in-depth analysis of the beer industry using the structure-conduct- performance paradigm. The analysis has enabled the observation that low-end beer industry in Zimbabwe has low entry barriers resulting in plenty of low-end beer business and low quality of products, which determine the fierce competition of the market. 1. INTRODUCTION The Zimbabwean beer industry is characterized by high levels of concentration with Delta Beverages dominating the market. The research tries to link the structure-conduct-performance (S-C-P) paradigm in the beer industry in Zimbabwe.
    [Show full text]
  • Brighter Together 3
    Delta Corporation LIMITED DELTA WORLD | FIRST HALF 2018 | FREE COPY, NOT FOR SALE Brighter Together DELTA INVESTS $1,5 MILLION IN CASTLE TANKARD 6 15 19 11 CEO's Message Recovery Continues: A time to demonstrate our resilience 3 in the face of forex shortages CONTENTS What’s Inside 3. CEO’S MESSAGE 4. EDITOR’S NOTE 5. DELTA POSTS 27% PROFIT INCREASE CLEAR BEER BRAND ACTIVITIES 6. DELTA INVESTS $1,5 MILLION IN CASTLE TANKARD 7. CASTLE LAGER 5-A-SIDE TOURNAMENT 8. CARLING BLACK LABEL POOL TOURNAMENT SORGHUM BEER BRAND ACTIVITIES 10. CHIBUKU NESHAMWARI 2018 DANCE FESTIVAL SPARKLING BEVERAGES BRAND ACTIVITIES 12. COCA-COLA MAINTAINS COMMITMENT TO ARTS INDUSTRY 13. COPA COCA-COLA SOCCER TOURNAMENT MARKS 30TH ANNIVERSARY 14. COCA-COLA CELEBRATES 70 YEARS IN ZIMBABWE 16. COCA-COLA FIFA WORLD CUP INCENTIVE DELTA IN THE COMMUNITY 18. DELTA-BOOST SOCIAL RESPONSIBILITY INITIATIVE MAD 21. LAGERS PLANT HOSTS PRESIDENT 22. WOMEN’S LINC 23. CHIEDZA CHILDCARE CENTRE DONATION 24. SCHOOLS ASSISTANCE PROGRAMME 25. BURSARY PROGRAMME 26. COMMUNAL MALTING SORGHUM FARMING 27. BARLEY DISCUSSION DAY 28. FIGHT AGAINST CHOLERA 29. FAIRBRIDGE ROAD REHABILITATION 30. DELTA SCOOPS BEST ZIMBABWEAN EXHIBIT AT ZITF 31. SCHOOLS TOUR WELLNESS 32. WELLNESS PROGRAMS 33. CANCER AWARENESS 2 CEO’S MESSAGE DELTA WORLD | FIRST HALF 2018 “Recovery Continues: A time to demonstrate our resilience in the face of forex shortages” Delta remains committed to Lager beer volume grew by 52% businesses. The growth in revenue has maintaining the positive impact our over prior year for the quarter and positively impacted on profitability activities have on our communities is up 54% for the six months.
    [Show full text]
  • Annual Report 2015 Report Annual
    SABMiller plc SABMiller Annual Report 2015 SABMiller plc Annual Report 2015 We are in the beer and soft drinks business. We bring refreshment and sociability to millions of people all over the world who enjoy our drinks. We do business in a way that improves livelihoods and helps build communities. We are passionate about brewing and have a long tradition of craftsmanship, making superb beer from high quality natural ingredients. We are local beer experts. We have more than 200 local beers, from which we have carefully selected and nurtured a range of special regional and global brands. Performance highlights Group net producer revenue1 Revenue3 EBITA4 EBITA margin progression -2% -1% -1% 0basis points 2015: US$26,288m 2015: US$22,130m 2015: US$6,367m 2015: 24.2% 2014: US$26,719m 2014: US$22,311m 2014 5: US$6,460m 2014: 24.2% 2 2 2 +5% +6% +6% +30 basis points2 Beverage volumes Profit before tax Adjusted EPS6 Dividends per share7 +2% 0% -1% +8% 2015: 324m hectolitres 2015: US$4,830m 2015: 239.1 US cents 2015: 113.0 US cents 2014: 318m hectolitres 2014: US$4,823m 2014: 242.0 US cents 2014: 105.0 US cents Water usage (beer)8 Net debt9 Free cash flow10 Total shareholder return11 -6% -27% +26% 121% 2015: 3.3 hl/hl 2015: US$10,465m 2015: US$3,233m Peer median: 85% 2014: 3.5 hl/hl 2014: US$14,303m 2014: US$2,563m 1 Group net producer revenue (NPR) is defined on page 188 and includes the group’s 6 A reconciliation of adjusted earnings to the statutory measure of profit attributable to equity attributable share of associates’ and joint ventures’ net producer revenue of shareholders is provided in note 8 to the consolidated financial statements.
    [Show full text]
  • Sabmiller Plc U.S.$5,000,000,000
    Proof3:8.7.09 PROSPECTUS DATED 9 July 2009 SABMiller plc (incorporated with limited liability in England and Wales) (Registered Number 3258416) U.S.$5,000,000,000 Euro Medium Term Note Programme Under the Euro Medium Term Note Programme described in this Prospectus (the ‘‘Programme’’), SABMiller plc (the ‘‘Issuer’’ or ‘‘SABMiller’’), subject to compliance with all relevant laws, regulations and directives, may from time to time issue Euro Medium Term Notes (the ‘‘Notes’’). The aggregate nominal amount of Notes outstanding will not at any time exceed U.S.$5,000,000,000 (or the equivalent in other currencies). Application has been made to the Financial Services Authority in its capacity as competent authority under the Financial Services and Markets Act 2000 (‘‘FSMA’’) (the ‘‘UK Listing Authority’’) for Notes issued under the Programme for the period of 12 months from the date of this Prospectus to be admitted to the official list of the UK Listing Authority (the ‘‘Official List’’) and to the London Stock Exchange plc (the ‘‘London Stock Exchange’’) for such Notes to be admitted to trading on the London Stock Exchange’s Regulated Market (the ‘‘Market’’). References in this Prospectus to Notes being ‘‘listed’’ (and all related references) shall mean that such Notes have been admitted to the Official List and have been admitted to trading on the Market. The Market is a regulated market for the purposes of the Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments. However, unlisted Notes may be issued pursuant to the Programme.
    [Show full text]
  • Makwembere Chengetai R113098a
    THE IMPACT OF BRAND EXTENSION STRATEGY ON LIQUOR SALES PERFORMANCE: THE CASE OF DELTA BEVERAGES’ LAGERS NORTHERN DIVISION (2012 – 2014). CHENGETAI THOMAS MAKWEMBERE R113098A 1 DECLARATION I, …………………………………………….,do hereby declare that this dissertation is a result of my own investigation and research, except to the extent indicated in the Acknowledgements, References and comments included in the body of the report, and that it has not been submitted in part or in full for any other degree to any other university. ……………………………… ……………………… Student Signature Date ………………………………… ………………………….. Supervisor Signature Date 2 ACKNOWLEDGEMENTS I would like to thank the Lord our God for guiding me through my Master Degree. I am grateful for the support that I received from my family, friends and workmates, who were patient and understanding during the course of my studies. I would like to extend my deep gratitude to Dr Maravanyika for his guidance and support in putting this dissertation together. I am very grateful for the patience which he demonstrated during his supervision of my work. Lastly, many thanks go to the managers from Delta who took part in my interviews and all those who participated in my group discussions for taking their time to answer my questions and contributing to this dissertation. My heartfelt thanks also go to the lecturers and staff from the Graduate School of Management at the University of Zimbabwe for all their assistance during the course of my studies. 3 ABSTRACT Literature indicates that brand extension is a growth strategy employed by organisations in an attempt to enter new products categories, revitalise a brand, and improve brand visibility.
    [Show full text]
  • Delta Annual.Qxd
    Organisational Vision STRATEGIC INTENT We are, and seek to remain, an integrated Total Beverage Business dominating all sectors of the cold beverage market in Zimbabwe. MISSION To grow the value of the business in real terms on a sustainable basis. We will achieve this through offering our customers outstanding service and through rigorous attention to the health of the business at all times. By so “We are, and seek to doing we will seek to enhance the value we create for all our stakeholders. remain, an integrated BUSINESS ETHOS To achieve excellence and to ensure survival, growth and profitability, Total Beverage Delta employees will be guided by the following business ethos: Business dominating • A desire to serve consumers and customers with passion • A culture driven by the desire to improve and to excel in all we do • A bias towards action all sectors of the cold • A belief that the destiny of the Company is in our hands. beverage market in “If it is to be, it is up to us.” Zimbabwe.” 02 Core Values 04 Chairman’s Statement 08 Review of Operations s 17 Report of the Directors 19 Corporate Governance at Delta t 20 Accounting Philosophy 21 Directors’ Responsibility for Financial Reporting n 22 Report of the Independent Auditors e 23 Financial Statements t 53 Safety, Health and Environmental Policy 54 Portfolio of Businesses 56 Directorate and Management n 58 Notice to Members o 59 Shareholders’ Analysis and Calendar C D ELTA CORPORATION L IMITED 1ANNUAL R EPORT 2009 Values Statements Our People are our enduring advantage • The calibre
    [Show full text]
  • 1. the Directors' Report On
    Annual Report SABMiller plc Annual Report 2008 About SABMiller plc One of the world’s largest brewers, SABMiller has brewing interests and distribution agreements across six continents. Our wide portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch along with market-leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. Six of our brands are among the top 50 in the world. We are also one of the world’s largest bottlers of Coca-Cola products. Overview Financial statements 01 Our performance 60 Statement of directors’ responsibilities on the consolidated financial statements 02 The group at a glance 61 Independent auditors’ report to the members of SABMiller plc Operating and financial review 62 Consolidated income statement 04 Chairman’s statement 63 Consolidated balance sheet 06 The global beer market 64 Consolidated cash flow statement 07 Chief Executive’s review 65 Consolidated statement of recognised 10 Our strategic priorities income and expense 10 Creating a balanced and attractive global spread 66 Notes to the consolidated financial statements of businesses 12 Developing strong, relevant brand portfolios 134 Statement of directors’ responsibilities on the in the local market company financial statements 14 Constantly raising the performance of local businesses 135 Independent auditors’ report to the members 16 Leveraging our global scale of SABMiller plc 18 Chief Financial Officer’s review 136 Balance sheet of SABMiller plc 24
    [Show full text]
  • Sabmiller Plc JSEALPHA CODE: SAB ISIN CODE: SOSAB ISIN CODE: GB0004835483
    SABMiller plc JSEALPHA CODE: SAB ISIN CODE: SOSAB ISIN CODE: GB0004835483 23 June 2015 Annual Financial Report SABMiller plc has today submitted a copy of the 2015 Annual Report and Accounts, Notice of the 2015 Annual General Meeting and Shareholder Proxy Form (UK) to the National Storage Mechanism and they will shortly be available for inspection at www.hemscott.com/nsm.do. The Annual Report and Notice of Annual General Meeting are also available on the Company’s website www.sabmiller.com. SABMiller plc’s Annual General Meeting will be held on Thursday, 23 July 2015 at the InterContinental London Park Lane, One Hamilton Place, Park Lane, London W1J 7QY. A condensed set of SABMiller’s financial statements and information on important events that have occurred during the financial year and their impact on the financial statements were included in SABMiller’s preliminary results announcement released on 13 May 2015. That information, together with the information set out below, which is extracted from the 2015 Annual Report, constitutes the material required by Disclosure and Transparency Rule 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service. This announcement is not a substitute for reading the full 2015 Annual Report. Page numbers and cross-references in the extracted information below refer to page numbers and sections in the 2015 Annual Report. PRINCIPAL RISKS AND UNCERTAINTIES (page 16 & 17) Principal risks Focused on managing our risks The principal risks facing the group and considered by the board and the executive committee are detailed below.
    [Show full text]
  • Ages Firm, Delta Corporation, Suffered a Slump in Volumes
    June 22-28 2017 S17 A flourishing brewer DESPITE a stormy financial year in which bever- SABMiller then began extending bottling lines which boosted beer pro- duction facilities. ages firm, Delta Corporation, suffered a slump technical and marketing support to Del- duction capacity. The group also increased its PET fill- in volumes, the company remains one of the ta. Add to this the company’s access to This entailed plant refurbishments ing capacity at Coca-Cola plants to close few profitable entities on the domestic bourse, funding at relatively cheap rates, which and the installation of new production the PET supply gap. writes Dumisani Ndlela enabled the brewer to set up new beer lines at almost all of the company’s pro- To S18 In its year to March 31, 2017, Delta Corpora- tion declared that it had “experienced significant challenges during the year”. The reason: Con- strained aggregate demand, limited access to cash, changes in payment platforms and delays in foreign currency remittances. Add to this the fact that torrential rains, which Zimbabwe experienced during the last season, limited market access and inhibited outdoor consumption occasions. “As a consumer facing business, these chal- lenges impacted the fortunes of the company,” said the group’s statement on the results. As a result, revenue decreased 10 percent dur- ing the year to March 31, 2017 to $483 million, with profit and earnings per share going down in sympathy. Profit for the year was at $69,9 mil- lion, from $80 million during the prior year. Still robust Yet if truth be told, Delta remains a mon- ey-generating entity, and is likely to remain a formidable player in the beverages market for the foreseeable future.
    [Show full text]
  • We're Working in Africa
    SAB MILLER AFRICA COVER 10/10/05 10:08 pm Page 1 SABMiller plc SABMiller plc (Registration No. 3528416) Registered office SABMiller House, Church Street West, We’re working in Africa Woking, Surrey GU21 6HS Head office One Stanhope Gate, London, England W1K 1AF For further information please go to www.sabmiller.com SAB MILLER AFRICA COVER 11/10/05 1:44 pm Page 2 Business and development: Future challenges 21 We’re working in Africa gains being realised are real and not just in weak economies as the thin end of a wedge We have a large part of our business, our history beautifully presented self-promotion – and are that is making the world safe for a ‘big and our pride invested in the African continent. Castle, trusted as such by an interested public. company’ model of the market, and which will What is genuinely interesting about the leave weak economies and small businesses Kilimanjaro, Mosi, 2M, Eagle, St Louis, Chairman’s ESB, selection of examples that SABMiller have struggling in their wake. Castle Milk Stout, Rhino and Nile Special are just some covered in this report is the diversity of issues This just does not have to be so. It is in and approaches that are described. the private sector’s interest to have diverse of our brands which have become household names Some, like HIV/Aids, combine the humanity and robust economies that operate within a and necessity of dealing sensitively and framework of good governance, well managed throughout Africa. effectively with Africa’s greatest scourge with a risks and a fair social environment.
    [Show full text]
  • Sabmiller Plc Annual Report 2012
    SABMiller plc Annual Report 2012 Contents What’s inside Overview 1 Performance highlights Financial and operational highlights 2 Five minute read 4 Group at a glance of the year, an overview of the group and a description of our business activities Business review 7 Chairman’s statement Statements from our Chairman and 12 Global beer market trends 14 Chief Executive’s review executive directors, an overview of 15 Business model our markets, strategy, our business 20 Strategic priorities model, the way we manage risk, 21 Key performance indicators 22 Principal risks how our operations performed 25 Operations review and our approach to sustainable 25 Latin America development and people 27 Europe 29 North America 30 Africa 32 Asia Pacific 34 South Africa: Beverages 35 South Africa: Hotels and Gaming 37 Chief Financial Officer’s review 46 Sustainable development 50 People Governance 52 Board of directors An introduction to the board and 54 Executive committee 55 Directors’ report executive committee and details of 59 Corporate governance the group’s approach to corporate 68 Directors’ remuneration report governance and remuneration Financial statements 84 Statement of directors’ responsibilities in respect of the Audited financial statements, notes consolidated financial statements 85 Independent auditors’ report to the members of SABMiller plc and other key data, and definitions on the consolidated financial statements of terms 86 Consolidated income statement 87 Consolidated statement of comprehensive income 88 Consolidated balance sheet
    [Show full text]