China, the world’s biggest beer market, has generated slower growth and thinner margins for SABMiller – a reversal in fortunes that the UK-listed brewer, which co-owns China’s number one brewery, attributes partly to the Chinese leadership transition earlier this month.
英国上市啤酒酿造商SABMiller在中国市场的销售额增长放缓,利润率有所下降。该公司表示,在华经营形势逆转部分是受到了本月早些时候中国领导人换届的影响。中国是全球最大的啤酒市场,SABMiller是中国第一大啤酒酿造企业的联合所有方。
SABMiller said its share of the lager market had fallen in a handful of China’s provinces during the three months to September 30, including Sichuan – which had been its most profitable province until last year. Across China, group revenues per hectolitre nudged up 2 per cent. However, operating margins decreased on the back of intensifying competition, which raised the cost of securing shelf space in bars and shops.
SABMiller表示,在截至9月30日的三个月中,其在包括四川在内的几个中国省份的市场份额均有所下降,而直到去年四川还是该公司最赚钱的省级市常该公司在华每百升整体收入小幅上升了2%,但营业利润率有所下降,主要是因为市场竞争加剧,导致产品在酒吧和商店的上架成本上升。
“We think it was affected more by competitive dynamics and the political transition – in the sense that everyone, from officials to consumers, are a bit uncertain, as they always are [at times of change], claimed Graham Mackay, executive chairman of SABMiller. At such times, he said, “they believe in money under the mattress.
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