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million in the six months to September, driven by strong volumes in lagers and soft drinks.
The group’s revenue rose 41 percent to US$254,8 million against a 23 percent growth in total beverage volume, Delta said in a statement yesterday.
Earnings per share grew 46 percent to US2,49c up US1,71c in the previous period as its share price jumped 5,6 percent to US75c on the ZSE.
Delta chief operations officer Mr Pearson Gowero told analysts on Wednesday that beverage volumes were up 23 percent, driven by lager and sparkling beverages.
Lager beer went up 30 percent on strong demand and improved availability following the commissioning of a new bottling line in Bulawayo in January.
In August, Delta also commissioned a US$13-million soft drinks plant in Harare with capacity to produce 600 hectolitres per year.
Sorghum beer grew 13 percent, sparkling beverages were 33 percent on last year’s figures while maheu went 113 percent up compared to the same period last year.
Delta CEO Mr Joe Mutizwa told an analysts’ briefing that the firm would spend US$78 million to expand operations in the full year to March 2012, up from the initially budgeted US$67 million.
Delta owned 38 percent by SABMiller declared an interim dividend of US0,83c representing a three times cover, which is 66 percent up on last year’s figures.
Analysts had forecast the biggest company on the ZSE by market capitalisation to declare an interim dividend of about US0,96c.
The blue chip firm will spend about US$10 million on dividends. Delta has 1 184 908 715 shares in issue.
Going forward, Mr Mutizwa said the group would also be paying more attention on management renewal that would see some of the long-serving members of the group being replaced.
Market speculation is that Mr Mutizwa would be retiring next year as chief executive and would be replaced by the chief operating officer Mr Pearson Gowero.
Mr Gowero was appointed COO in July this year following a five-year secondment to SABMiller as managing director for Zambia Breweries.
Sources said the board had already finalised Mr Mutizwa’s exit after serving the company for more than two decades, about 10 of which he spent as chief executive.
Mr Mutizwa said the company had been pursuing a deliberate programme to refresh the management team to put the company in a strong position.
“Over the last few years you have seen us making these changes at management level. Much ground has been covered to date culminating in the appointment of Pearson,” said Mr Mutizwa.
He could have been insinuating his exit when he announced the exit of Dr Sam Mushuri, executive director for the supply chain, when he said: “In the new year the board will be making further announcements in this regard (management renewal).”
Online Reporter