SABMiller ups financial targets for Africa operations.

By bne IntelliNews March 23, 2011
SABMiller has raised its medium-term financial targets for its operations in Africa. Expectations for revenue per hectolitre growth have increased from a range of 1 to 3%, to a range of 3 to 5%, subject to currency fluctuations, the brewer said in a statement. Previous guidance for flat margins has now been revised to include a 0.8 to 1% increase on average per year over the next 3 to 4 years. Anticipated medium term compound annual volume growth in the high single digits remains unchanged. Over the past three to four years we have invested over USD 1.5bn in capital expenditure, increasing our capacity and market penetration, in addition to taking us into several new markets through acquisitions, said SABMiller's managing director of the group's Africa division. This investment is paying off and we are expecting to further cement our position as the leading brewer on the African continent, the executive noted.

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