SABMiller firm hits $1bn Zim market cap
Harare - Zimbabwe’s beverages company Delta Corporation, owned 40% by SABMiller [JSE:SAB], became the first Zimbabwean company to reach $1bn market capitalisation at the Zimbabwe Stock Exchange.
In Friday trade the company picked up 0.48% to close at 83.5 US cents and take its market capitalisation to $1.004bn, a first for any Zimbabwean company.
In its last full-year results Delta Corporation posted a 38% rise in full-year earnings, driven by strong demand for alcoholic and non-alcoholic beverages.
Delta said basic earnings per share jumped to 6.22c on the back of a 19% increase in beverage volume sales. Lager beer sales reached 1.98 million hectolitres during the year, almost 100% of Delta’s capacity.
Revenue grew 36% to $555m, and profit after tax rose to $75.2m.
SABMiller started reporting Delta Corporation's results from April 1 2010.
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