Business / Companies
Delta Corporation revenue slide further
14 Jul 2016 at 05:16hrs | Views
Most locals seem to have cut down on beer consumption as Delta Corporation revenue continue to drop with each passing quarter.
On Wednesday it reported an 11 percent decline in revenue in the first quarter to June 30 on weak consumer demand.
That was the case in April as it reported a 7 percent decline in revenue for the year to 31 March citing soft consumer demand and increased competition from imports.
Delta's revenue has been falling on an annual basis since 2013, reflecting Zimbabwe's stalling economic recovery.
During the quarter, lager beer volumes were 14 percent down compared to the same period last year while sparkling beverages also declined nine percent over the same period.
"Consumer spending has been affected by the limited access to cash, a poor agricultural season and the generally weak macro-economic performance," the company said in an update.
Sorghum beer volumes increased nine percent in the quarter, driven by improved availability of the company's popular Chibuku Super brand.
On Wednesday it reported an 11 percent decline in revenue in the first quarter to June 30 on weak consumer demand.
That was the case in April as it reported a 7 percent decline in revenue for the year to 31 March citing soft consumer demand and increased competition from imports.
Delta's revenue has been falling on an annual basis since 2013, reflecting Zimbabwe's stalling economic recovery.
During the quarter, lager beer volumes were 14 percent down compared to the same period last year while sparkling beverages also declined nine percent over the same period.
"Consumer spending has been affected by the limited access to cash, a poor agricultural season and the generally weak macro-economic performance," the company said in an update.
Sorghum beer volumes increased nine percent in the quarter, driven by improved availability of the company's popular Chibuku Super brand.
Source - Byo24News
