SABMiller's strong results hit by US dollar  

SABMiller has posted strong net producer revenue (NPR) growth for the third quarter, however that has been knocked back due to the US dollar.

The company said it saw 7% growth across the group for the three months to 31 December 2015. However when foreign exchange was taken into account, that dropped to a fall of 8% for the quarter.

For the year to date NPR grew 5%, but was again hit by the US dollar, with a decline of 9%.

Lager volumes across the company grew 3% across the group, driven by 7% growth in Latin America after an increase of 13% in Colombia.

Soft drink volumes also increased 8% after Africa posted double digit growth, while Latin America was subdued.

The group saw a particularly strong increase in revenue in Africa, with 12% growth in revenue and an 8% growth in beverage volumes for the quarter.

Chief executive Alan Clark said it has been a very strong three months, but not without some bumps in the road.

“Group NPR growth was held back by headwinds in our associates' and joint ventures' major markets and continued industry trends in the USA,” he said.

"Our reported results are materially impacted by the significant depreciation of our key operating currencies against the US dollar but the underlying performance we are reporting today reflects the strength of our business and the dedication of our people."

The results come ahead of its takeover by AB InBev, which is due to be completed in the second half of the year.