Delta Corporation reports subdued performance as lager sales slip 57%

ZIMBABWE – Delta Corporation, Zimbabwe’s largest beverage manufacturer, reported a decline in its performance for the first quarter ended 30 June 2019 on the back of declining sales. The company saw its lager beer volumes declining by 57% while sparkling beverages volumes dropped by 79% compared to the prior year due to constrained demand and raw material supply related challenges. Delta reported a 92% increase in total group revenue, but only because the previous period’s reporting was valued in US$ and at the time there was still a one-to-one exchange…

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Delta Corporation increases shareholding in African Distillers to 50.1%

ZIMBABWE – Delta Corporation Limited, a leading beverages producer in Zimbabwe, has increased its shareholding in wine and spirits firm, Africa Distillers Limited (Afdis) to 50.1% as the majority shareholder. Before the additional share accumulation, Delta held 8.29% in direct shareholding in Afdis while Afdis Holdings private limited held the largest shareholding in Afdis at 59.38% followed by Old Mutual at 10.45%. “Turning to investments Delta has been making, the group effective shareholding in Afdis has increased to 50,1 percent and the entity has been consolidated as a subsidiary,” said…

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Zimbabwe’s Delta Corp reports increase in revenue amid challenging beverage sector

ZIMBABWE – Delta Corporation Limited has reported a 26% increase in revenue in the full year ended March 31st, 2019 despite a challenging operating environment mainly due to pressure exerted by forex quandary in the country. However, the beverage manufacture noted that the representation do not reflect the actual position of its financial performance after a change in reporting currency during the last quarter of the period under review. The Reserve Bank of Zimbabwe (RBZ) changed the reporting standards allowing Zimbabwe Stock Exchange-listed firms to report in United States dollars…

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Zimbabwe beer prices surge as beverage manufacturer Delta turns to forex sales

ZIMBABWE – Retail beer prices in Zimbabwe have continued to escalate, growing by more than 100%, as beer manufacturer fault forex shortages and a challenging business environment characterised by diminishing consumer spending. The economic pressure in the country has pushed the leading beverage manufacturer, Delta Corporation Limited, to start pricing its product in hard currency. NewZimbabwe reports that Delta dumped the local bond note and RTGS and started pricing beer products in US dollars, triggering off the sharp increase in the beer prices. Beverage distributors in the country said the…

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Inadequate Forex hampers Delta’s soft drinks operations

ZIMBABWE – Delta Corporation has revealed that its soft drinks category that is, its Coca-Cola operations is facing challenges relating to shortage of foreign currency in the country since it relies mainly on imported raw materials. Including its Chibuku Super operations, the company said it was hit hard by the prevailing forex shortages as Zimbabwe suffers weak economy thus realising little from exports. Challenges include inability to secure hard currency for critical imports such as spares, raw materials and equipment. Speaking on the matter, the country’s Vice President reiterated government’s…

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Zimbabwe’s Delta Corporation revenue up 18% on beer volume growth

ZIMBABWE – Delta Corporation’s, the beer and soft drinks company of Zimbabwe revenue has increased 18% in the year to March 2018, attributed to higher beer volumes and growth in larger sparkling beverages. The Herald report cited a trading update for the fourth quarter and full year to March 2018, which included the results of the newly acquired Zambian unit, National Breweries (Natbrew Plc). The Zimbabwe Stock Exchange listed beverage manufacturer, Delta acquired a controlling stake in the sorghum beer company, National Breweries (Natbrew Plc) from Heinrich’s Syndicate, AB InBev’s…

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