Delta Q1 revenue down 11pct as demand weakens

Delta Q1 revenue down 11pct as demand weakens

HARARE, July 13 (The Source)-Beverage manufacturing Delta Corporation on Wednesday reported an 11 percent decline in revenue in the first quarter to June 30 on weak consumer demand in the face of depressed disposable incomes.

During the quarter, lager beer volumes were 14 percent down compared to the same period last year while sparkling beverages also declined nine percent over the same period.

“Consumer spending has been affected by the limited access to cash, a poor agricultural season and the generally weak macro-economic performance,” the company said in an update.

Sorghum beer volumes increased nine percent in the quarter, driven by improved availability of the company’s popular Chibuku Super brand.