Business News
Global beer sales down as credit crunch hits consumer pockets
Jan 15, 2009, 16:21 GMT
London - Consumers from Latin America to eastern Europe have apparently resisted drowning their economic sorrows in a glass of beer, trading figures from SABMiller, the world's second-largest brewer, showed Thursday.
The group's trading update for its third quarter up to the end of December showed that lager shipments in Europe dropped by one per cent as a result of the 'impacts of the global financial crisis on consumer disposable income.'
The decline was led by Russia, where volumes were 22 per cent down, while supplies to Romania and the Czech Republic also slowed.
According to SABMiller, volumes were flat in China, but in Africa, lager volumes grew by four percent.
Latin America saw two-per-cent growth in third-quarter shipments, according to SAABmiller which sells brands including Grolsch, Peroni Nastro Azzurro and Pilsner Urquell.
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