Delta beverages, the country’s leading beer manufacturer reported high sales volume as a result of the political developments that led to the ouster of former President Robert Mugabe as renewed hope for economic revival pushed consumer spending to new levels, Group Secretary Alex Makamure has said.
According to the Group Secretary, Alex Makamure, the period which was characterized by the significant political developments had played into their favor as there was renewed optimism for economic recovery- pushing consumer spending up.
“The company today issues the following update for the third quarter and nine months ended 31 December 2017.
“The period was characterised by the significant political developments which gave rise to renewed optimism for an economic recovery.
“This manifested through increased consumer spending and market liquidity, the resurgent demand was largely met despite the challenges in procuring imported materials and services.
“Lager beer recorded a spike in demand with the volume growing by 36% above prior year for the quarter and 20% for the nine months,” said Makamure.
He added that the increased demand for lager beers had come with gaps in consumer brand preferences packs with sparkling beverage volume increasing by 14 percent while sorghum grew by 10 percent.
“There were gaps in meeting consumer preferences of brands and packs owing to this sharp, albeit welcome, increase in demand.
“Sparkling beverages volume increased by 14% over prior year for the quarter and 5% for the nine months, the sorghum beer volume grew by 10% above prior year for the quarter and closed flat for the nine months and the growth was driven by Chibuku Super.
“Group revenue increased by 24% for the quarter and is up 9% for the nine months,” he said.
Meanwhile Makamure said board of Directors has declared a second Interim Dividend, number 119, of US2.25 cents per share.
