DLTA.zw | 3rd Quarter Trading Update

Published: 16 January 2018
Delta Corporation Limited issued the following trading update:

 "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. 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. The growth was driven by Chibuku Super.

Group revenue increased by 24% for the quarter and is up 9% for the nine months.

The Group's previous financial statements and other company reports are available on the website www.delta.co.zw


Shareholders are reminded that the Company is trading under a cautionary issued with respect to the notice received from The Coca-Cola Company (TCCC) advising of an intention to terminate the Bottler's Agreements with the Group entities (Notified Intention). This followed the merger of AB InBev and SABMiller Plc in October 2016 and the subsequent agreement in principle reached between TCCC and AB InBev to explore options to restructure the bottling operations in a number of countries. The discussions have progressed slower than anticipated.


NOTICE is hereby given that the Board of Directors has declared a second Interim Dividend, number 119, of US2.25 cents per share payable in respect of all the qualifying ordinary shares of the Company to be paid out of the profits for the current financial year. This will be payable to shareholders registered at the close of business on 02 February 2018. The dividend will be paid by direct transfers or other approved forms of payment…"

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