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SABMiller cuts long run European growth forecast

13-Jul-2009

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SABMiller has cut its long-term forecast for European sales growth as the global recession eats into demand for beer.

The company revised its European forecast to 2 to 4 per cent growth for the years through 2013 from its original 4 to 6 per cent estimate. With a 22 per cent share of group profits, Europe is a crucial market for the world’s second biggest brewer.

At an investor briefing in London, SABMiller said beer consumption is easing in Europe and growth markets in Eastern Europe are fast reaching maturity. To grow the top line this year, the company is banking on increases in market share.

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