Delta Beverages blames cash shortages, heavy rains and imports for reduced revenues

Posted by Maveriq

Beverage manufacturer Delta Corporation recorded reduced revenues in the last quarter and full year to March this year. Delta Corporation reported group revenue dropped by 15 percent and 10 percent for the quarter and the full year respectively.

The company attributed the drop to a combination of imports, cash shortages and inaccessibility of markets due to heavy rains. In a statement Delta said:

The fourth quarter recorded a particularly depressed volume and revenue outturn. In addition to the constrained aggregate demand, the outturn was impacted negatively by heavy rains that reduced market access and outdoor consumption occasions.

The pronounced shortages of bank notes and limited availability of alternative payment platforms also affected demand,

There was a marked increase in imports of soft drinks mainly from Zambia and Mozambique in the second half of the year

More: Chronicle

 

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