adminSABMiller’s Zimbabwean affiliate Delta Corporation reported a 25 percent drop in lager sales for the six months to September on Monday, as slower economic growth in Zimbabwe hit demand for beer. Zimbabwe in July slashed its 2014 growth forecast to 3,1 percent from 6,1 percent, due to lower output in mining and manufacturing and as more companies shut down, the finance minister has said.
Delta, Zimbabwe’s largest listed company, is 38 percent owned by global brewer SABMiller. Delta also said in a trading update that soft drink sales fell 6 percent during the period.
Demand for cheaper sorghum beer remained strong, jumping 14 percent in the first six months, while overall revenue was 4 percent lower, Delta said.
Delta’s shares were unchanged at 125c during Monday’s trade. — Reuters
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