Delta lobbies for price adjustments

DELTA reported inflation beating 16 173% growth in revenue in the six months to September 30 although margins had come under pressure as a result of power outages and price distortions. 

Turnover was Z$6,9 trillion from $42,2 billion and operating profit was $2,2 trillion, 15 564 percent up on last year’s figure of $14,45 billion.  

Chief executive Joe Mtizwa said Delta continued to “aggressively” lobby for price adjustments and State support for foreign currency and fuel. The group was now paying Zesa in hard currency. In addition, they had procured 150 000 litres of diesel from Noczim in October out of a monthly requirement of 800 000 litres.  

Total beverage volumes in the period fell 6,6% with a 8% gain in the second quarter unable to offset the 14,1% loss in first quarter.  

 

Post published in: Economy

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