PRINT PAGE
 

Africa, Eastern Europe and Turkey

Key financials

2013 Reported
(restated)* £ million
Exchange
£ million
Aquisitions and disposals
£ million
Organic movement
£ million
2014 reported
£ million
Reported movement
%
Net sales 2,276 (210) (6) 15 2,075 (9)
Marketing spend 265 (24) (1) 2 242 (9)
Operating profit before exceptional items 653 (95) (2) (2) 554 (15)
Exceptional items (5)       (23)  
Operating profit 648       531 (18)

* Restated following the adoption of IFRS 11 and the amendment to IAS 19.

"In a tough year and despite facing significant challenges, net sales grew 1% as the region responded to the specific market challenges that it faced. In Nigeria, where beer performance was weak, we adjusted prices and increased our presence in the growing value segment. Innovation was a key enabler for responding to changing consumer trends through new formats and brands and the region delivered the highest growth rate for innovation through the success of brands such as Snapp in Nigeria, Jebel in Kenya, Smirnoff Black Ice in Cameroon and Ghana and super premium brands in Turkey. We have expanded our route to consumer, revitalised the Guinness brand across its key markets in Africa and reserve brands grew 26%. Under recovery of fixed costs in supply due to lower beer volumes and cost and salary inflation drove an overall reduction in organic operating margin, although significant procurement and supply chain savings partly mitigated this impact."

  Organic volume movement *
%
Organic
net sales movement
%
Reported
net sales movement
%
Key markets and categories      
Africa, Eastern Europe and Turkey (5) 1 (9)
Africa (6) - (9)
Nigeria (9) (9) (14)
East Africa (12) 2 (2)
Africa Regional Markets (3) 2 (8)
South Africa 4 12 (9)
Russia and Eastern Europe (1) 2 (7)
Turkey (3) 5 (12)
       
Spirits ** 2 3 (10)
Beer (16) (5) (11)
Ready to drink 44 34 21
       
Global and local leaders**:      
Johnnie Walker - - (8)
JεB (1) (2) (12)
Smirnoff (5) (3) (16)
Captain Morgan 16 17 3
Baileys (8) (7) (13)
Guinness (7) 1 (5)

* Organic equals reported movement for volume except for South Africa 3%, Russia and Eastern Europe (2)% and spirits 1%, reflecting the termination of the Jose Cuervo distribution agreement.

** Spirits brands excluding ready to drink.

Resource Finder ?

This resource finder searches all resources within the Investor section of the site. Filter the resources on the page using the toolbar.
Shareholder Services
Corporate Governance
Financial Calendar