HomeNewsSABMiller's Zimbabwe unit H1 earnings up 46 pct

SABMiller's Zimbabwe unit H1 earnings up 46 pct

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* Revenues up 41 pct to $255 mln

* Total beverage sales up 23 percent

SABMiller’s Zimbabwe unit registered a 46 percent increase in earnings in the half-year to September, driven by strong beverage sales growth as the country’s economy continues to recover.

Delta Corporation , which is 38 percent owned by SABMiller, reported basic earnings per share of 2.49 cents in the first half, up from 1.71 cents previously. After-tax profit was $30.29 million, compared to $20.47 million in the correpsonding period of 2010.

Revenue rose to $254.8 million, up from $181.8 million last year, as total beverage volumes jumped 23 percent on the previous year’s figure.

Delta CEO Joe Mutizwa told an analyst briefing that the firm would spend $78 million to expand operations in the full-year to March 2012, up from the initially budgeted $67 million.

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