Listed beverages manufacturer,
Presenting the group's performance for the year ended
"There was a significant injection of new returnable glass bottles, which enabled the better utilisation of existing production capacity and the increase in the glass float allowed traders to remove the restriction to exchange bottles at point of purchase," Moyo said.
During the period, a new brand,
The sorghum beer volume in
"The volume at
"There are, however, concerted efforts to stabilise the business through focused product offerings and enhanced distribution strategies," said Moyo.
Across the borders, United National Breweries South Africa benefited from the lifting of the alcohol ban to record a volume increase of 63% over prior year.
The sparkling beverages volume grew by 65% over the previous year. The business has responded positively to the ongoing initiatives to recover market share through competitive pricing, focused market execution and consistent supply of brands, flavours, and packs.
The group recorded revenue of ZW$86, 5 billion, reflecting a growth of 160% over prior year compared to average inflation of 83%.
Over 50% of the revenue in
In inflation adjusted terms, the Group recorded earnings before interest and tax (EBIT) of ZW$25, 4 billion, which is 37% above prior year, attributed to the volume recovery.
"Going forward, the group is undertaking an ambitious recapitalisation programme to address the capacity gaps and improve customer service," added Moyo.
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