SABMiller’s Zimbabwe unit Delta revenue down 4pct on soft demand

HARARE, May 13 (The Source) – SABMiller’s Zimbabwe beverage manufacturer Delta Corporation reported a four percent decline in revenue to $576,6 million for the full year to March 2015 on depressed sales values and volumes from both its sparkling drinks and larger beers.

SABMiller’s Zimbabwe unit Delta revenue down 4pct on soft demand

SABMiller owns about $0 percent of Delta, whose $1,3 billion market capitalisation makes it the biggest stock on Zimbabwe’s stock exchange.

Delta’s financial results, released on Wednesday, showed operating income decreased by 14 percent to US$ 111, 1 million in the year.

Lager beer volumes were down 17 percent on prior year while soft drinks volumes, comprising both sparkling and alternative beverages, slumped six percent on prior year.

In its audited financial results for the year ending 31 March, the company reported that the rate of decline in sales volume and value had decelerated in the last half of the year following price reductions that improved affordability.

The company said an excise duty rate reduction from 45 percent to 40 percent by government as from 1 January 2015 helped stem the rate of declining demand.

“We remain engaged with the fiscal authorities on the need to continually review excise duty to regional benchmarks in order to restore competitiveness.”

Sorghum beer sales were up eight percent on prior year driven by Chibuku Super with the brand attaining a 50 percent contribution by March 2015.

The maheu and dairy mix beverages were up 11 percent in the year with the category expected to benefit from the additional production capacity commissioned in October 2014.

EBITDA Decreased by 10 percent to $ 143,2 million

Earnings per share Decreased by 13 percent to 7,44 cents.

Share this:

Arts & Entertainment

22 Trackbacks & Pingbacks

  1. AB InBev, SABMiller deal to cost Zimbabwe’s Delta bottling deal with Coca-Cola - Zimbabwe Consolidated News
  2. Google
  3. backgammon game
  4. bucket trucks new jersey
  5. best rabbit vibrator
  6. rabbit adult toy
  7. sex confession
  8. 韓国エスコートアガシ
  9. Arduino price
  10. software download for pc
  11. pc games for windows 7
  12. buy beats
  13. خرید سرور مجازی
  14. Blood吸血鬼醫生dvd
  15. best kona
  16. 100% kona
  17. motu and patlu game
  18. http://motuandpatlugames.com
  19. kona 100%
  20. robert
  21. nSpire Network Signup
  22. cool downloads

Leave a Reply

Your email address will not be published.


*