DOCSLIB.ORG

Ages Firm, Delta Corporation, Suffered a Slump in Volumes

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read 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. Many of the municipal- ity-owned breweries that competed for market share have folded, and those still operational are tottering on the brink of collapse. During the hyperinflationary crisis, the com- pany had lost its beer market share to imported lagers due to government’s interference with the pricing of consumer products. The share for soft drinks had also been lost to imported cordials, PET and some limited can imports. But since 2009 when Zimbabwe ditched its currency and adopted a hard currency regime, Delta clawed back to its dominant position. SABMiller, the major shareholder until Octo- ber 2016 when the conglomerate merged with AB InBev, resumed consolidation of Delta’s fi- nancial results from April 2010. Delta CEO Pearson Gowero S18 TOP COMPANIES SURVEY: DELTA CORPORATION CONGratulatory SUPPLEMENT June 22-28 2017 From S17 Total capital expenditure invested in ex- panding the firm’s operations between dol- A flourishing brewer larisation to March 2017 amounted to just under $300 million while expenditure utilised to maintain operations is in the region of $194 million. One analyst has suggested that the com- pany’s entire plant and equipment is now just over five years old, and the business does not need to make significant investments to re- place plant and equipment in the short to me- dium term. Delta, which has a strong brand portfolio of lager beers and a portfolio of sparkling bever- ages – Coca-Cola, Fanta, Sprite, Sparleta and Schweppes, among others – as well as tradi- tional beer, reclaimed its dominance of the beer market and the soft drinks market, and almost completely closed the gap on compe- tition. But the challenges precipitated by impru- dence in economic management since 2013 again began to take a toll on volumes and rev- enues. During the period under review, lager beer volumes were down seven percent on the prior year, while sparkling beverages were down 11 percent. Sorghum beer, the more af- fordable concoction, was down three percent on the prior year. Concerns There are concerns the recent merger of SABMiller and AB InBev could result in the loss of the sparkling beverages business. The sparkling beverages business and an associate entity, Schweppes Holdings Africa, produce brands under licence from The Coca-Cola Com- pany (TCCC) in terms of bottlers’ agreements. Following the merger with of SABMiller and AB InBev, TCCC indicated its intention to ter- minate these bottlers’ agreements. Currently, TCCC and AB InBev are pursuing strategies that could result in a restructure of these busi- ness entities, but Delta’s management said the units had “not been identified as a disposal group” because no specific positions had been reached yet on these matters. The company Delta is principally an integrated beverage company with a diverse portfolio of local and international brands in lager beer, traditional beer, Coca-Cola franchised sparkling and alter- native non-alcoholic beverages. It has invest- ments in associate companies whose activities are in cordials and juice drinks, wines and spir- its. The company was first listed on the Zimba- bwe Stock Exchange in 1946 as Rhodesia Brew- eries Limited. Its origins, however, date back to 1898 when the country’s first brewery was established in Cameroon Street, (Salisbury) Harare, from where the brewing industry de- veloped into a major industrial and commer- cial operation. By 1950, the company had built the Sable Brewery in Bulawayo, producing pale ale, milk stout and Sable Lager. Over the years, it contin- ued to expand its portfolio of businesses and diversified its brewing base. In 1978, the name was changed to Delta Corporation Limited and the company assumed the mantle of a holding company for a broad range of interests serving the mass consumer market. These included lager and sorghum beer brewing, bottling of carbonated and non-car- bonated soft drinks, supermarket and furni- ture retailing, tourism and hotels and various agro-industrial operations. The hotel, supermarket and furniture retail- ing businesses were demerged from the group in 2001 to 2002 resulting in Delta focusing on the core beverages sectors. Some supply chain related investments re- mained part of the group until 2014 when the plastic packaging entity, MegaPak, was de- merged. The company has a minority share- holding in the now consolidated packaging group NamPak Zimbabwe. Outlook Going forward we expect that the compa- ny will continue to face systematic challenges associated with the economic environment in Zimbabwe, in particular the continued shortage of cash especially for its traditional The Financial Gazette congratulates all the 2017 Top Companies semi-urban and rural customers. As the country’s acceptance and infrastruc- award winners. A big thank you to our sponsors and stakeholders ture related to the use of electronic money im- proves, we expect Delta’s revenue streams to for making the event a success. be alleviated from the downward pressure. The opening up of the Kwekwe and Masvingo Chibuku Super plants and the flow of income to the rural areas following a relatively strong recovery in the agricultural sector should aug- ment revenue generation as well as. Major risks that the company faces in their outlook include import competition, inflation- ary pressures for their supplies and continued pressure on disposable income limiting aggre- New Worth Knowing gate demand for their products. June 22-28 2017 TOP COMPANIES SURVEY: DELTA CORPORATION CONGRATULATORY SUPPLEMENT S19 Delta Corporation Top Companies Survey Awards S20 TOP COMPANIES SURVEY: DELTA CORPORATION CONGRATULATORY SUPPLEMENT June 22-28 2017 Our brands in the community THE company remains committed to the development of sport and the arts through various brand sponsorships as it endeavours to connect its brands with both its consumers and the communities. Sports Soccer remains Zimbabwe’s premier sport. The Coca- Cola brand invests significantly in grassroots soccer de- velopment where talent in both boys and girls has been discovered. The likes of Knowledge Musona have come through the Copa Coca- Cola programme. Meanwhile, the brand Castle Lager has renewed its Pre- mier Soccer League for another three years, an investment of over one million dollars per year in sponsorship and sup- porting activities. The Chibuku brand also plays in with a sponsorship for the Chibuku Super Cup. Carling Black Label sponsors the National Pool tournament, a sport that has a rising follow- ing. Zambezi Lager focuses on consumers eager to follow the call to embrace Zimbabwe’s great outdoor life. It re- mains the official beer for Kariba Invitational Tiger Fishing Tournament. The Pilsener brand has a long history in part- nering golf and for a long time was the anchor sponsor of The Chibuku Road to Fame. the Zimbabwe Open Golf Tournament. The company also makes notable contribution to the Annual National Sports Awards where sporting prowess in various sporting disci- plines is rewarded. Philanthropy Castle Lager brought consumers together for a worthy cause at the maiden Castle Lager Braai Day at Alexander Sports Club on October 29, 2016. The event saw consumers coming out to enjoy good music, braai and some cold Castle Lagers. Through this event, the brand will donate a year’s supply The Castle Lager of meat to the country’s two biggest referral hospitals - Ha- Braai Festival at rare Hospital and Mpilo Hospital in Bulawayo. Alexander Sports Arts Club. Chibuku is the brand behind the country’s most priced Traditional Dance competition, Chibuku Neshamwari held annually. It reaches all the 10 provinces of the country and is a valuable tool for the preservation of authentic Zimba- bwean art. The brand also supports grassroots talent search com- petition, Chibuku Road to Fame which has provided an im- portant platform to expose local music talent in the country. Delta is also behind the schools traditional dance competi- tion Jikinya, which is an annual competition drawing chil- dren from primary schools across the country. June 22-28 2017 TOP COMPANIES SURVEY: DELTA CORPORATION CONGRATULATORY SUPPLEMENT S21 Our people are our enduring advantage WITH a headcount of about 4 which the company continues and a business imperative.
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]
  • 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.
    [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]
  • 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]