DELTA Beverages says lager volumes for the full-year to March 31 dropped 18% while total beverage volumes remained flat compared to the prior year, reflecting a depressed market and a flatlining economy.
Revenue dropped 9% in the fourth quarter in comparison to the previous year and 1% on the full-year, a Delta trading update showed yesterday.
On a quarterly basis, the lager volumes were 26% lower in the fourth quarter compared to the same period in the prior year.
Total beverage sales also slowed by 6% in the fourth quarter.
“This represents both softening demand and the impact of high consumer prices driven by high levels of excise duties. Prevailing retail prices remain above recommended prices,” the company said.
It said volumes for sparkling beverages were 13% down on the fourth quarter and 2% for the full-year after a disruption on water supplies.
Sorghum beer sales grew by 10% in the fourth quarter and 13% for the full year. Sales of maheu and dairy beverages grew 11% in the fourth quarter on the prior year and 33% on the full year.
Full-year results, which will be published in May, will mirror the revenue performance, it said. — The Source
