New bottling plant for Delta
Delta Corporation, Zimbabwe’s biggest brewer and largest company by market value, will commission a $17 million bottling plant in Harare next month.
Since 2009, the company has invested more than $200 million as part of a “very aggressive” programme to boost capacity, he said.
Delta is 36% owned by SABMiller.
Last week an international advisory firm ReNaisance Capital (RenCap) said the Zimbabwe Stock Exchange-listed beverage maker would shrug off economic problems besetting the economy and continue to register growth.
“We believe Zimbabwe’s macroeconomic environment is becoming more challenging in the absence of political reform,” said RenCap.
“Although Delta has proved a resilient performer during difficult times, it is not immune to deteriorating growth in our view.”
RenCap in its research note, said while a weaker macroeconomic picture in 2012 and 2013 could impair volume growth, the advisory firm was hopeful Delta would register growth in revenue and earnings, driven by product-mix gains and improved efficiencies.
“For FY13 (full-year 2013), we forecast revenue and earnings growth of 15% and 18% respectively. Over FY12 (full-year 2012) — FY18 we expect top — and bottom — line growth to average 11% and 14%, respectively,” said RenCap.