Afdis Q1 sales, revenue below budget

Afdis Q1 sales, revenue below budget

HARARE, November 9 (The Source) – African Distillers sales volumes and revenue fell below budget in the first quarter to September, but the beverage maker expects improvement in the second quarter, boosted by demand in the festive season.

Managing director, Cecil Gombera told shareholders at the company’s annual general meeting that business has been ‘largely satisfactory’ despite product supply gaps emanating from foreign currency shortages.

Spirits, both brown and white remained the major contributor to both volumes and revenues. The company was also looking at ‘competitive pricing’ in the face of stiff competition, said Gombera.

The ready to drink business was now a significant contributor to the overall business and continues to grow despite raw material supply constraints, he added.

The recent addition of Hunters Edge to the cider product portfolio has broadened the market base and was attracting a new class of consumers.