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BEVERAGE manufacturer Delta Corporation yesterday reported a 12 percent decline in annual profit to $80 million after revenue fell seven percent as consumer spending remains under pressure.
Revenue from continuing operations in the full year ended March 31 was down to $538 million compared to $576 million the previous year.
Operating income fell 14 percent to $96,1 million as the group recorded reduced volumes. Lager volumes were down eight percent, while sparkling beverages and Sorghum beer declined six percent and three percent respectively
Finance costs during the year were up to $5, 7 million from $5,3 million the previous year.
Earnings before interest, tax, depreciation and amortisation (EBIDTA) fell 10 percent to $ 129 million.
Total tax remittances for the year amounted to$139,6 million. Earnings per share (EPS) dropped 13 percent to 6,49 cents.
The board declared a special dividend of us 0.95 cents per share and final dividend of $2.35 cents per share.— The Source
Online Reporter
derick.khumalo