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Delta records 8% decline in revenue for first half of the year

7 years agoTue, 18 Oct 2016 07:14:19 GMT
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Delta records 8% decline in revenue for first half of the year

Delta Corporation, has recorded an 8% decline in revenue for the first half of the year due to changes in product mix and pricing decisions.

In a statement yesterday, Delta Corporation said revenue went down 6% during the first quarter and 8% for the six months. Part of the statement reads,

The trading environment continues to be constrained by depressed consumer spending, limited access to cash and the generally weak macro-economic performance. Trading patterns remain inconsistent. The shortages of foreign currency resulted in reduced importation of consumer goods leading to an increase in demand for some of our product lines. There is an emerging risk on water supply due to depleted dam and ground water sources. This is causing production disruptions.

The group said it will commission its Masvingo plant this month and has also moved the commissioning of the Kwekwe plant to a later date due to delays in the delivery of equipment by suppliers. The two plants were undergoing a $14,5 million apiece upgrade. The upgrade will see Delta producing four million hectolitres annually of beer.

More: NewsDay

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