BREWING giant AB InBev reported its satisfaction with the progress made by its new cider brand in the UK as it posted its third quarter and nine month trading update this month.
The firm’s UK president, Stuart MacFarlane, said Stella Artois Cidre, a 4.5% ABV Belgian cider available in the on and off-trades, “continues to exceed expectations”.
“Stella Artois Cidre has taken a 16% share of the off-trade premium cider market after just six months despite difficult economic conditions and poor summer weather,” he said.
AB InBev, which also makes Beck’s and Budweiser, reported revenue growth of 3.6% in its third quarter, with growth running at 4.2% over the nine month period. In the UK, its market share dipped slightly in the third quarter as volumes fell by 0.2%.
“Overall UK beer performance remains strong despite a challenging quarter and tough comparable to the 2010 FIFA World Cup,” MacFarlane said.
Meanwhile, fellow brewer SAB Miller has reported profit before tax of $2.04bn for the six months to September 30.
The firm behind Peroni Nastro Azzurro said the figures were driven by developing markets in Latin America, Africa and Asia as conditions remained tough in the UK.