HARARE – The country’s largest listed company, Delta’s revenue for the year dropped by 6 percent owing to a 17 percent decline in lager volumes consumed in the country year-on-year.

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Delta Corporation’s 12 months financials for the period that ended 31st March 2015 reflect declining revenue due to depressed demand for alcoholic beverages.

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The firm, in a statement, reported that it recorded a mixed performance across the beverage categories, owing to constrained consumer spending.

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A declining local manufacturing capacity and weakening regional currency which encourages imports have also been cited.

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Lager beer volume fell 3 percent below the prior year for the quarter and down 17 percent for the full year reflecting a deceleration in the rate of decline compared to the preceding nine months.

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At the beginning of the year, Delta instituted price reductions aimed at improving the affordability of the firm’s brands as well as stemming the volume decline.

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Soft drinks volumes comprising both sparkling and alternative beverages have however continued to decline, and are down 5 percent and 6 percent for the quarter and the full year.

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The traditional opaque beer, maheu and dairy mix beverages were the only ones to record a growth of 11 percent for the full year.