SABMiller Zim affiliate says lager volumes down

Harare - SABMiller's Zimbabwe affiliate reported an 18 percent decline in annual volume of lager beer on Thursday, hit by an economic slowdown that has dented consumer demand.

Delta Corporation, is 38 percent owned by global brewing giant SABMiller.

Credit: One Red Eye/Philip Meech. Credit: Newscast/SABMiller PLC

It said in a trading statement its lager business had also taken a knock from government levies, which pushed prices up.

Delta, Zimbabwe's largest listed company with a $1.4 billion market capitalisation, produces lager and sorghum beer as well as non-alcoholic beverages.

Its total beverage production was flat at 6.9 million hectolitres during the year to March.

Revenue, which peaked to $631 million last year, was declined by 1 percent during the period.

The company is due to announce its full-year results next month.

Shares of Delta were flat at 115 cents on Thursday. - Reuters