JSE-listed SABMiller has declared organic, constant currency group net producer revenue (NPR) growth of 5% to $26.288-million for the 12 months to March 31 compared with the $26.719-million reported for the 2014 financial year.

"We achieved positive momentum in our underlying business performance, particularly in the latter part of the year, with earnings before interest, taxes and amortisation (Ebita) growth and margins expanding on an organic, constant currency basis. As flagged, the strengthening dollar against many of our operating currencies had a negative translational impact on reported results,” CEO Alan Clark said on Wednesday in a statement on the company's preliminary unaudited results.

Ebita for the period under review was $6.367-million, down from $6.460-million. Adjusted earnings per share (EPS) were 239.1c a share, declining from 242c a share, while basic EPS were 205.7c a share, decreasing from 211.8c a share reported for the 12 months to March 31, 2014.

However, free cash flow increased by 26% to $3.233-million from $2.563-million, which excluded the receipt of the proceeds from the sale of the group's investment in Tsogo Sun. Dividends a share had also grown by 8% to 113c from 105c.

Clark emphasised that the multinational brewing and beverage company had a clear strategy to drive top-line growth, improve efficiency and shape its mix of business to continue to deliver superior returns to shareholders.

SABMiller’s results for the 12 months to March 31 demonstrated good progress against this strategy, he noted.

This success was founded on the company’s broad exposure to high-growth developing markets where it had long-standing commercial and operational experience, including deep local consumer insights. “We have also seen good performance from many of our markets in improving their premium mix and driving innovation,” he added.

SABMiller’s topline revenue growth was strong in the face of industry headwinds, which kept lager volumes in line with last year.

The company’s revenue growth was assisted by the positive results of its strategy to increase premium beer sales in markets, such as the US and Australia, and in developing markets across Africa and in Colombia.

NPR growth in premium brands was 8% (in constant currency), with global brands NPR growth at 16%, supported by volume growth of 11%. “At the other end of the price ladder, we increased the availability of affordable beers, taking share from the informal alcohol market in Africa and Latin America,” Clark enthused.

SABMiller continued to invest in its brands, which included reinvigorating its high-volume core lagers so they remained relevant to today's millennial consumers, and broadening beer's appeal so that it was the drink of choice for more people on a greater variety of occasions.

“We're doing this by developing new beer styles and flavours, and expanding into ciders and radlers. We are seeing great success with brands like Redd's Apple Ale in the US and Flying Fish in South Africa,” Clark pointed out.

Soft drinks continue to be a “standout performer” for SABMiller, with excellent volume growth across Africa, Latin America and Europe. The company’s confidence in the future of its soft drinks business was underlined by the agreement, announced in November 2014, to create Coca-Cola Beverages Africa, the largest bottler in Africa.

Clark also highlighted that SABMiller was on track to deliver its targeted savings of $500-million a year by 2018, with the company’s cost and efficiency programme delivering cost savings of $221-million in the year.

“By consolidating activities such as procurement and back office services, and integrating our supply chain, we are reaping rewards.

“Our global procurement organisation helped to drive savings in direct materials, which, together with lower commodity prices, mitigated adverse transactional currency headwinds," he said.