JSE-listed beer and soft drinks business SABMiller on Thursday reported 4% growth in group net producer revenue (NPR) and a 1% increase in total beverage volume for the full year ended March 31.

SABMiller CE Alan Clark said the company’s topline performance was strong in the final quarter, driven by double-digit revenue growth in Africa and sustained growth in Latin America.

“Asia Pacific also returned to growth during the last three months of the year as lager volumes in China returned to growth. In the final quarter our revenues grew by 6%, repeating the strength of the first quarter, while [the] full-year revenue growth of 4% was driven by revenue a hectolitre growth in all regions,” he explained in a statement to shareholders.

SABMiller noted that lager volume for the year were in line with the prior financial year, with growth in Africa and Latin America offset by volume weakness in China and North America. However, lager volumes increased by 2% in the fourth quarter, reflecting a strong performance, which was led by South Africa, and recovery in volume growth in China.

Continued growth in soft drinks was experienced across the group, with volumes up 8% for the year and the fourth quarter, owing to consumption in Africa and Latin America.

In Latin America, group NPR for the year grew by 7%, with beverage volume growth of 3% reflecting soft drinks volume growth of 8% and a 1% increase in lager volume growth, which grew by 3% in the final quarter. This was owing to a strong performance ahead of Easter, particularly in Peru and Ecuador, and affordability initiatives employed in Central America. 

Group NPR in Africa grew by 9%, reflecting beverage volume growth of 5% and selective pricing and continued premiumisation in lager, with lager volumes growing by 4% for the full year.

SABMiller said lager volume growth on the continent was aided by a strong fourth quarter, which benefited from Easter and the cycling of weaker trading.

In South Africa, a 9% growth in group NPR was underpinned by a positive lager brand mix that was enhanced by premium innovations, modest lager price increases across selected bulk and convenience packs, and strong Easter trading.

Asia Pacific group NPR was up 1% compared with the prior year, with a 2% decline in beverage volume offset by group NPR a hectolitre growth of 3%. This reflected premiumisation in China and a change in the relative weighting of volumes in Australia compared with China. 

In Europe, group NPR grew by 2%, with an increase in group NPR a hectolitre of 1%, while total beverage volume for the year under review grew by 1% with lager volumes level with the prior year. 

North America group NPR was in line with the prior year, driven by MillerCoors. MillerCoors’ volumes were lower for the year, but were offset by improved group NPR a hectolitre, driven by higher net pricing and a favourable brand mix. US domestic sales to retailers declined by 2.3% for the full year and 2.7% in the fourth quarter.