Delta Beverages has dismissed rumors circulating that they are left with one-week supply for Chibuku Super saying their packaging supplier is experiencing problems which they hope will be address soon.
In an interview with 263Chat, Delta Beverages Secretary, Alex Makamure said there was a temporary supply issue related to packaging of Chibuku Super.
“One-week supply is not related to beer (production), Chibuku like l said was facing a temporary supply issue of packaging and an issue of raw materials.
“The supply of beer is ok but there were some issues with respect to packaging and also people have to understand that the growth in Chibuku is in Super,” he said.
According to Delta, the beer segment, lager, and sorghum beer volume for the year ended 31 March 2018 grew 27% and 2% respectively above prior year while the sparkling beverages volume grew 15% above last year.
“The year experienced firm consumer demand particularly in the second half across all beverage categories. In the beer segment, lager and sorghum beer volume grew 27% and 2% respectively above prior year while the sparkling beverages volume grew 15% above last year.
“Revenue growth of 18% (organic 17%) resulted in Earnings Before Interest and Tax (EBIT) growing 28% above last year with a strong contribution from each beverage category. Strong cash fl ow generation arose from improved working capital.
“Included in the Net Cash balance of US$ 236 million is cumulative US$59 million in unremitted dividends payable to foreign shareholders and US$46 million in overdue foreign creditors,” they said.
