SABMiller Volumes Down
MillerCoors Sees Trend Improvement

Dear Client:SABMiller posted global lager volumes down 1% in calendar Q2 amid bad weather, excise tax increases, and Easter timing in several big markets. "As anticipated at the start of the year, consumer demand has remained uneven, with improvements seen in some countries and weakness in others," says Graham Mackay. African lager sales were up 7%, but Europe volumes declined 9%. That says it all.In the three months to June, MillerCoors' domestic sales to retailers were down 2.4%, with shipments