SABMiller revenues rise 17 percent in third quarter
LONDON (Reuters) - Global brewer SABMiller (SAB.L) said its overall revenues rose 17 percent in the third quarter compared to last year, sustained by improving growth in its key Latin American markets.
Lager volumes were up 2 percent on an organic basis for the quarter, said the maker of Miller Lite, Grolsch and Peroni, with overall performance in line with its expectations.
Growth in volume terms was held back by a decline in China, where cold weather subdued demand.
The world's second biggest brewer (SABJ.J) earns around 70 percent of its profit from fast-growing emerging markets, which helps insulate it from tough mature markets where hard-pressed consumers are economizing at the bar and drinking less beer at home.
(Reporting by Rosalba O'Brien; editing by James Davey)
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