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Harare - SABMiller's [JSE:SAB] Zimbabwean affiliate Delta Corporation reported a 25% drop in lager sales for the six months to September on Monday, as slower economic growth in the southern African country hit demand for beer.
Zimbabwe in July slashed its 2014 growth forecast to 3.1% from 6.1%, due to lower output in mining and manufacturing and as more companies shut down, the finance minister has said.
Delta, Zimbabwe's largest listed company, is 38% owned by global brewer SABMiller. Delta also said in a trading update that soft-drink sales fell 6% during the period.
Demand for cheaper sorghum beer remained strong, jumping 14% in the first six months while overall revenue was 4% lower, Delta said.
Delta's shares were unchanged at 125 cents during Monday's trade.
