admin
Sithandazile Moyo Business Reporter
DELTA Beverages posted a profit of $104 million for the year ended March 31, up 38 percent from $75 million during the same period last year.
Group revenue grew by 14 percent to $631 million compared to last year.
Operating margins improved marginally to 24, 75 percent reflecting a beneficial focus on productivity, efficiency and overhead control.
Attributable income also increased by three percent due to an increase in finance income.
The group said alternative beverages such as Mahewu and the new dairy based beverages went up by 33 percent.
Sorghum beer volumes grew by 12 percent spurred by Chibuku which contributed 10 percent of the volume.
Lager beer volumes went down by 18 percent reflecting the softening demand and high consumer prices driven by the onerous levels of excise duty.
Cash generated from operating activities increased by $44 million to $165 million. Working capital increased marginally by $5 million despite the increase in raw material stock holding to mitigate anticipated shortages and optimise operations on the back of a healthy cash position.
Delta said capital expenditure was $83,6 million as it invested in production capacity and returnable containers.
Cumulative capital expenditure since 2009 when the economy dollarised amounted to $287, 5 million. Net debt stood at $3,5 million primarily due to higher cash generation.
Online Reporter