Zimbabwe: SABMiller’s local unit sees half-year earnings rise 9.5%

SABMiller's Zimbabwe unit reported a 9.5 percent rise in half-year earnings on November 13 on the back of rising sorghum beer and non-alcoholic beverages sales, which made up for a decline in lager beer volumes.

Delta Corporation, 38 percent owned by global brewing giant SABMiller, said earnings per share rose to 3.83 cents in the six months to end-September, up from 3.50 cents.

Chief executive Pearson Gowero said lager beer volumes declined 10 percent during the period as economic growth slowed, forcing some consumers to migrate to the cheaper sorghum beer.

After-tax profit increased 12 percent to $47.2 million during the six-month period as overall revenue grew by 5 percent to $316 million.

15 November, 2013