LONDON/JOHANNESBURG, June 17 (Reuters) – An African has to
work three hours on average to afford a beer, compared with 12
minutes for a European, and yet the continent is the global hot
spot for beer growth, such that the world’s big brewers are
struggling to keep pace.
Mark Bowman, Africa boss for global brewer SABMiller
, is building new breweries in Nigeria, Uganda and Zambia
this year and expanding those in a string of other nations.
LONDON (Reuters) – The world’s biggest hotelier, InterContinental Hotels (IHG.L: Quote, Profile, Research, Stock Buzz), expects its London rooms to be about 90 percent full for the Olympic Games as the world’s sports fans flock to Britain for the two-week extravaganza.
Chris Hale, the group’s head of London 2012, said its key revenue measure could also be boosted, and countered criticism that rooms during the Games are too expensive by pointing to “lots” of availability at less than 100 pounds a night.
LONDON, June 10 (Reuters) – British drinks giant Diageo
is leading the race into emerging markets ahead of
French rival Pernod Ricard and looks set to be first
to get half its sales from these growth areas as it serves
drinkers from Moscow to Mumbai.
While Diageo has been snapping up producers of baijiu,
cachaca and raki in China, Brazil and Turkey to drive sales in
the world’s fastest growing economies, Pernod is hamstrung by
massive debts taken on four years ago to buy Absolut vodka.
LONDON (Reuters) – Drinks group Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz) is to invest over 1 billion pounds ($1.5 billion) in Scotch whisky production over the next five years, creating hundreds of jobs, to meet growing demand from the emerging markets of Asia, Latin America and Africa.
The maker of Johnnie Walker, J&B and Bells whisky said it plans to build a new malt distillery, expand a number of its other distilleries and develop plans for a second new distillery if global demand is sustained at expected levels.
LONDON (Reuters) – World No.2 brewer SABMiller (SAB.L: Quote, Profile, Research, Stock Buzz) is set for a tough battle to turnaround its Australian Foster’s acquisition as its beer volumes sink and it loses key import contracts which will stretch management to meet new aggressive targets.
Investors are unconvinced that SABMiller, which has built up its business around fast-growing emerging markets to become the biggest brewer there, made the right move in buying the No.1 player in mature market Australia when its beer volumes, profit and market share were all going south. SABMiller’s shares have underperformed its main rival Anheuser Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz).
LONDON, May 31 (Reuters) – Strong growth of sucralose
sweetener Splenda and other speciality food ingredients helped
boost Tate & Lyle’s full-year profit 23 percent, as the
British group gained from a move by consumers toward healthier
The London-based sweeteners and starches group reopened a
second plant in March to meet demand for its zero calorie
Splenda while high sugar prices benefited its competing bulk
sweeteners and it gained from growth in emerging markets.
LONDON (Reuters) – British electrical retailer Dixons has spent the last few weeks stockpiling security shutters to protect its nearly 100 stores across Greece in case of riot.
The planning, says Dixons chief Sebastian James, may look alarmist but it’s good to be prepared.
LONDON, May 28 (Reuters) – British electrical retailer
Dixons has spent the last few weeks stockpiling
security shutters to protect its nearly 100 stores across Greece
in case of riot.
The planning, says Dixons chief Sebastian James, may look
alarmist but it’s good to be prepared.
LONDON (Reuters) – British drinks group Diageo (DGE.L: Quote, Profile, Research, Stock Buzz) is buying a maker of Brazil’s most popular spirit, cachaca, for about 300 million pounds ($469 million), boosting its expansion in fast-growing emerging markets while it fights for a bigger prize in tequila.
The London-based maker of Johnnie Walker whisky and Smirnoff vodka, which is aiming to get half of its sales from emerging markets by 2015, said on Monday it had agreed to buy Brazil’s Ypioca from its family owners.
LONDON, May 24 (Reuters) – Strong growth in Africa and Latin
America helped global brewer SABMiller offset a fall in
beer drinking in Europe and North America, as the Grolsch and
Peroni maker beat forecasts with a 12 percent rise in full-year
The world’s second biggest brewer earns 70 percent of its
profit from fast-growing emerging markets, which helps insulate
it from tough mature markets where hard-pressed consumers are
economising at the bar and drinking less beer at home.