Delta profit down

Beverage manufacturer Delta Corporation has 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 in the previous year.

Operating income fell 14 percent to $96.1 million as the group recorded reduced volumes. Lager volumes were down 8 percent, while sparkling beverages and Sorghum beer declined 6 percent and 3 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

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