HARARE - Delta Corporation, Zimbabwe's biggest brewer, has grown its profit seven-fold, posting a staggering US$39.7 million profit. The beer and soft drink company of Zimbabwe, which is part-owned by SABMiller Plc, said revenue ballooned to US$39.7 million, from US$5.4 million last year, according to a financial statement.Delta, which is headquartered in the capital, Harare, said the past 12 months had been a time for change for the country and the group, and said the February 2009 paradigm shift in economic policy improved the business operating environment dramatically.
Zimbabwe’s economy stabilised in February 2009 following a 10-year slump after a unity government formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai adopted the use of multiple foreign currencies to replace a worthless local dollar.
The Zimbabwe Stock Exchange-listed concern said lager beer and soft drink sales had shot up. Delta brews lagers Castle Lager, Eagle Lager, Lion Lager, Carling Black Label, Golden Pilsener Lager, Bohlingers Lager; traditional beers Chibuku, brewed from malted maize and sorghum, available in 2-liter plastic containers and carbonated soft drinks Coca Cola, Fanta, Sprite, Sparletta, Scwheppes.
It also produces non-carbonated soft drinks Mr. Juicy fruit drinks and Mahewu sorghum drink. The company was upbeat about the economic outlook.
It reported that sales of lager beer rose 50 percent in the period under review compared with the same month last year. Delta said beer production was improving after “years of under-utilization and limited maintenance.”
Soft-drink sales rose 81 percent in the same period. Delta is one of two companies in Zimbabwe that owns the franchise to produce coke drinks.
“Capacity has been improved by the new 42,000 bottle per hour packaging line for lagers in Harare which was fully operational by the end of October 2009,” the statement said.
It also said the mothballed Zvishavane traditional beer brewery was brought back on stream on November 1 last year and Chibuku Shake Shake was relaunched in October in the improved one-litre non-returnable pack.
Post published in: Economy