Delta Corporation reports 480% rise in revenue despite significant economic constrains

ZAMBIA – Delta Corporation Limited, leading manufacturer and marketer of both international and locally produced beverages in Zimbabwe has reported a 480% growth in revenue to ZWL 4.2 billion (US$11.6m) on historical cost basis, in the year ended March 31, 2020 from ZWL 722m (US$1.99m) recorded the previous year. According to the company’s financial report, the revenue growth was driven by inflation induced pricing across all product categories. During the year under review Earnings before interest and tax (EBITDA) grew by 560% to ZWL 1.42billion (US$3.9m) while Operating Income rose by…

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Delta renews three-year bottlers contract agreement with The Coca-Cola Company

ZIMBABWE – Delta Corporation Limited, a leading beverages producer in Zimbabwe has renewed the bottlers agreement with The Coca-Cola Company (TCCC) to run for the next three years. Delta had been trading under a cautionary issued after TCCC announced its intention to terminate the bottlers agreement with the group entities. This followed the merger of AB InBev and SABMiller Plc in October 2016 and the subsequent agreement in principle reached between TCCC and AB InBev to explore options to restructure the bottling operations in a number of countries. The renewal…

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Delta injects $11m into sorghum contract farming to boost production

ZIMBABWE – Delta Corporation, Zimbabwe’s largest beverage manufacturer, has injected more than $11 million into its Beverages Sorghum Contract Farming Scheme (BSCFS) during the 2019/2020 farming season, as it moves to support local farmers. Delta requires about 11, 400 tonnes of red sorghum and 2 400 tonnes of white sorghum annually but requirements vary every season, depending on projected domestic beer consumption levels, reports News Day. Delta corporate affairs executive Patricia Murambinda said that 6 949 farmers across the country had been contracted to produce sorghum this season. “Our current…

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Delta Corp reports dwindling performance with 48% decline in larger beer volumes

ZIMBABWE – Delta Corporation Limited, a beverage manufacture in Zimbabwe has reported a decline in its performance for the half year period ended September 2019 on the back of declining sales. The company saw a 40% tumble for the quarter and 48% for the six months in lager beer volumes compared to the same period last year affected by the fundamental changes to the economy arising from the recent fiscal and monetary policy shift. Zimbabwe shifted from the multi-currency trading and reverted to the Zimbabwe Dollar as the sole trading…

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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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