Many companies that have come to the market after the price blitz with their results opting to pass a dividend. Innscor was a surprise candidate to omit a final dividend.
Delta released a fair set of results with turnover growth of16 339% to $6,937 trillion for the interim period ending August 31 compared to $42,1 billion last year.
Exports rose 34 512% in the same period to $534 billion. Operating profit grew by 12 483% to $1, 665 trillion from $13,2 billion after a 12 454% rise in EBITDA.
Operating margins declined to 24% against 31% in the prior year. Â
Lager and soft drinks volumes were 4% and 2% above last year respectively, having being somewhat below last year at the end of Q1. Sorghum beer volumes recovered from being 16% below last year at June and closed the half 10% down.
Its volume recovery was hampered by power cuts at breweries outside major urban centers.
Plastic volumes were 25% down on prior year due to the collapse of the edible oil and cordials industry during the price freeze and glass sales were halved by the need to take the furnace off line for repairs.
Delta anticipates taking in a total of 24,000 tonnes of barley. Management has to balance available malt volumes between exports (currency generation) and the production of local clear beer. Focus will be on the Eagle brand that does not require malt as it based on sorghum.
Post published in: Economy