Delta Zimbabwe dents SABMiller Africa performance

Delta’s 10 percent drop in revenue for the third quarter to December was the only decline among SABMiller’s Africa subsidiaries, reflecting the continued economic challenges facing Zimbabwe, the group announced last week.

In its trading update for the group’s third quarter ended 31 December 2014, SABMiller said all the other African subsidiaries except its Zimbabwe subsidiary recorded an increase in revenue, ranging between two and 33 percent.

SABMiller owns 40 percent of Delta Beverages and said net producer revenue (NPR) for Africa grew by seven percent driven by beverage volume growth of four percent.

NPR measures revenue less excise and similar taxes, including the group’s share of associates’ and joint ventures’ excise and similar taxes.

In South Africa, NPR grew by six percent while Tanzania it grew by five percent.

SAB Miller said in Mozambique NPR grew by 26 percent while in Zambia it grew by two percent.

Nigeria recorded the biggest jump in NPR at 33 percent.

“Group NPR in Zimbabwe declined by 10 percent reflecting continued economic challenges,” the company said.- The Source

(269 VIEWS)