adminUS$1,1 million on the back of improved first quarter performance.
Investors have continued to show interest in the country’s biggest company by market capitalisation given its strong financial performance, increased production and forecast.
Delta recorded a 42 percent increase in revenue to US$144 million through to June from US$101 million a year earlier with April recording US$50 million while May and June registered US$47 million each. by
Beverage volumes increased 27 percent to 1,67 million hectolitres in the first quarter.
This is the strongest first quarter volume growth since 2009.
Lager beer grew by 35 percent, sorghum beer 13 percent, sparkling beverages 37 percent and Maheu grew by 273 percent. A total beverages growth of 23 percent was recorded.
The company is also planning on paying an interim dividend. Delta has also advised that there is a strong drive underway to localise suppliers. Going forward, management expects volume growth to be sustained and to be ahead of budget. Earnings growth is also expected to be ahead of the 16 percent growth factored in the budget.
Meanwhile, huge volumes were also recorded in small capitalised Steelnet where a block of 44 million shares worth a paltry US$44 000 crossed on the market.
Steelnet is one of the companies with less than US$1 million market capitalisation.
Analysts have questioned the presence of some companies on the ZSE looking at their negligible market capitalisation.
A snap survey of the ZSE shows that only 11 counters have got more than US$100 million in market capitalisation, 25 counters are below US$10 million and 10 firms are below US$2 million.
The industrial index on Tuesday reversed the previous day’s losses to post a 0,38 percent gain at 163,95 points as foreign investors continue to dominate trades in heavily capitalised counters. Foreign inflows stood at US$1,3 million while outflows amounted to US$1,2 million.
Value traded for the day remained significantly above daily averages at US$2,9 million while volumes amounted to 60 million shares.
The industrial index was buoyed by a 0,38 percent recovery in Econet at US440c as gainers at 11 counters outnumbered nine losers. The resurgence of buying interest in life assurance group Fidelity saw the counter top the risers with an impressive 22,87 percent advance at US14, 02c bringing its year-to-date gain at 537,27 percent.
Exciting low valuation levels in construction group, M&R has ignited buying pressure as the price climbed 12,80 percent to close at US14, 1c.
In the negative was CBZ which slipped 3,33 percent at US14, 5c, NMBZ lost 20 percent at US1,2c while Meikles was 1,54 percent softer at US32c.
The mining index closed in the negative easing 1,22 percent to 157.58 points weighed down by Hwange, which lost 0,23 percent to US56c.
Online Reporter