Delta Zimbabwe posts record half year lager sales

HARARE, (Reuters) – Zimbabwe’s largest brewer Delta Corporation on Wednesday announced a record 54 percent rise in lager sales by volume in the half-year to September, driven by strong demand and pre-election spending, which drove revenues up by more than a third.

Delta, which is 40 percent owned by Anheuser-Busch Inbev, said in a trading update that revenues increased 37 percent during the March-September period, boosting profitability and cashflow.

However, the company said its soft drinks output, which grew 3 percent, was affected by shortages of imported raw materials, which caused production stoppages.

Companies in Zimbabwe, including mines, are struggling to pay for imports amid an acute shortage of U.S. dollars.

Delta will publish its half-year results on November 8.