JOHANNESBURG - Multinational brewing and beverage group Distell on Friday said during the first three months of the new financial year ending June 2018, it recorded “muted revenue growth”, compared to the corresponding period in the previous year.
The company said their South African operations recorded overall revenue growth in an environment of “near stagnant economic growth and intensified competitor activity as consumers seek value offerings”.
“We achieved good revenue and volume growth in Zambia and Ghana. “The performance of KWA Holdings EA Limited, of which we acquired the majority shareholding in April 2017, was also encouraging with volume and revenue growth well up on the previous year,” the company said.
However, the overall performance of the African region was negatively impacted as “we continue to feel the effects of low commodity prices on economic growth across many parts of the continent”. In the international markets, the US, The Netherlands, Switzerland and New Zealand were showing “good growth, with global trading conditions remaining lacklustre and highly competitive”.