SABMiller: Zimbabwe lager sales fall faster

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Lager sales volumes at SABMiller’s Zimbabwe affiliate fell 21 percent year on year during its first quarter to June, another sign of the sharply contracting economy, Delta Corporation said yesterday. Delta, Zimbabwe’s largest listed company, is 38 percent owned by global brewing giant SABMiller. The company said in a trading update that soft drinks volumes were also down 8 percent. Customers were switching from lager to cheaper sorghum beer, which posted a 15 percent jump in volumes during the period. Delta reported an 18 percent fall in lager volumes in the year to March. Zimbabwean businesses are struggling with high operational costs and debt, competition from cheaper imports and electricity shortages. – Reuters

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