Delta lager volumes up

HARARE - Beverages maker Delta Corporation (Delta) says its lager beer volumes went up seven percent in the nine months to December 2012, largely spurred by substantial demand during the festive season.

The Zimbabwe Stock Exchange-listed group said lager beer volumes increased by five percent in the third quarter ended December 31, 2012.

“Sparkling beverages volumes were up eight percent for the quarter and 10 percent for the nine months.

Sorghum beer volumes were down 10 percent for the quarter and nine percent for the nine months, a trend consistent with that for the first half of the year,” Delta said in its maiden trading update.

Revenue for the quarter to December 2012 was up 14 percent and 16 percent to date supported by improved mix and minimal price increases.

Delta said the impact of the increase in excise duty on lager beer from 40 percent to 45 percent of manufacturer’s price effective December 1st last year, was largely expected to be minimal.

“The overall financial performance for the quarter and year to date is in line with our expectations,” said Delta.

The group recently became the first company on the local bourse to surpass a $1 billion market capitalisation. SABMiller, one of the world’s largest brewers, recently increased its shareholding in Delta from 38 percent to 40 percent. - Business Writer

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