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Brighter Together 3 Delta Corporation LIMITED DELTA WORLD | FIRST HALF 2018 | FREE COPY, NOT FOR SALE Brighter Together DELTA INVESTS $1,5 MILLION IN CASTLE TANKARD 6 15 19 11 CEO's Message Recovery Continues: A time to demonstrate our resilience 3 in the face of forex shortages CONTENTS What’s Inside 3. CEO’S MESSAGE 4. EDITOR’S NOTE 5. DELTA POSTS 27% PROFIT INCREASE CLEAR BEER BRAND ACTIVITIES 6. DELTA INVESTS $1,5 MILLION IN CASTLE TANKARD 7. CASTLE LAGER 5-A-SIDE TOURNAMENT 8. CARLING BLACK LABEL POOL TOURNAMENT SORGHUM BEER BRAND ACTIVITIES 10. CHIBUKU NESHAMWARI 2018 DANCE FESTIVAL SPARKLING BEVERAGES BRAND ACTIVITIES 12. COCA-COLA MAINTAINS COMMITMENT TO ARTS INDUSTRY 13. COPA COCA-COLA SOCCER TOURNAMENT MARKS 30TH ANNIVERSARY 14. COCA-COLA CELEBRATES 70 YEARS IN ZIMBABWE 16. COCA-COLA FIFA WORLD CUP INCENTIVE DELTA IN THE COMMUNITY 18. DELTA-BOOST SOCIAL RESPONSIBILITY INITIATIVE MAD 21. LAGERS PLANT HOSTS PRESIDENT 22. WOMEN’S LINC 23. CHIEDZA CHILDCARE CENTRE DONATION 24. SCHOOLS ASSISTANCE PROGRAMME 25. BURSARY PROGRAMME 26. COMMUNAL MALTING SORGHUM FARMING 27. BARLEY DISCUSSION DAY 28. FIGHT AGAINST CHOLERA 29. FAIRBRIDGE ROAD REHABILITATION 30. DELTA SCOOPS BEST ZIMBABWEAN EXHIBIT AT ZITF 31. SCHOOLS TOUR WELLNESS 32. WELLNESS PROGRAMS 33. CANCER AWARENESS 2 CEO’S MESSAGE DELTA WORLD | FIRST HALF 2018 “Recovery Continues: A time to demonstrate our resilience in the face of forex shortages” Delta remains committed to Lager beer volume grew by 52% businesses. The growth in revenue has maintaining the positive impact our over prior year for the quarter and positively impacted on profitability activities have on our communities is up 54% for the six months. The and cashflows. and the economy in general, ensuring business has responded well to the that our investments and supply surge in demand, with volume outturn I am confident we will again report chains maximise benefits to as surpassing historical peaks. There are good progress in the third quarter as many stakeholders as possible. Our some frictional shortages of brands we maintain our focus on our business exemplary business performance in and packs occasioned by the limited strategy to offer favourite beverages the face of adverse trading conditions production capacity and raw material at best value while striving to benefit bears testimony to our resolve to supply issues. from economies of scale. succeed. The Sorghum beer volume in The company maintains its leadership ecently the group issued a Zimbabwe grew by 9% above prior in the development of sport and the arts trading update for the second year for the quarter and 2% for the six through various brand sponsorships Rquarter ended 30 September months. There was an improvement and community projects. 2018. The business continues to in the supply of packaging materials Also, in line with our “smart record positive volume trends. The for Chibuku Super. The production agriculture” initiative this year has quarter witnessed strong consumer capacity for Chibuku Super is now seen a significant portion of our demand driven by the increased fully extended whilst that for standard malt barley, red and white sorghum economic activity in mining and Chibuku is limited by the shortages of and other raw materials through our agriculture, expansionary fiscal and Scud bottles. own contract farming program across monetary policies and the election the country reaching around 9,000 related spending, a continuation National Breweries Plc - Zambia subsistence farmers, including both of the positive trends witnessed in (Natbrew Plc) recorded a volume commercial-scale and smallholder the previous quarter. There were growth of 13%, in response to the farmers. The company runs the pronounced product supply gaps volume recovery initiatives which sorghum input scheme to grow the occasioned by the challenges in focus on packs and competitive sweet red sorghum and other low acquiring imported raw materials pricing. tannin varieties for the Eagle lager and services as the access to foreign brand. The barley intake was of high currency has become increasingly The Sparkling beverages volume malting quality, demonstrating the difficult. Our Sparkling Beverages declined by 14% compared to prior benefits of the agronomic support division has been hit most with several year for the quarter and grew by 3% offered by the company to farmers. plant stoppages during the first half of for the six months. The category was As you read this issue, our awards are the year. The concentrates supplied adversely affected by the challenges evidence of our teams’ successes in by The Coca-Cola Company from in securing imported raw materials, developing and upholding world class the plant in Swaziland are the most leading to extended periods of performance. critical, as we can only bring in orders production stoppages and out of stock Thank you all again for your when we have secured hard currency. situations. contribution to our continuing There are ongoing engagements success. with the monetary authorities and Group revenue increased by 33% the parent Ministry of Industry and (30% organic growth) for the quarter Commerce to prioritise hard currency and 37% for the half year driven PEARSON GOWERO allocations to the manufacturing by the volume growth in the beer sector. 3 EDITOR’S NOTE From the Editor Delta Corporation Limited, Corporate Affairs Executive Patricia Kudzai Murambinda elcome to another edition of readable. Your comments will be welcomed. To contribute to Delta World the Delta World Newsletter – Equally we value reader’s contributions and Contributions to Delta World are welcome. Wa newsletter which focuses on up-to-date information that is relevant to our The next issue will be published at the end activities happening within Delta Corporation focus on such matters as: of January 2019. Deadline for contributions and how the company is performing. It’s hard is November 15, 2018. to believe that we are already half way into •Our business strategy and your contribution the year – but the distinctly hotter weather to it: Please email your article and pictures and the beautiful greens of summer certainly • An update on how Delta is implementing to the editor, Patricia Murambinda, at indicate the changing season. A new year for this and other strategies, how operations [email protected]. Pictures must us always offers the opportunity to do things reflect this focus; and sharing best practice. be good quality, in focus and high resolution, differently and at a better level. It gives us an in jpeg or pdf format. If you have any opportunity to reinvent ourselves and better The newsletter also has a place for your input queries, please address them to Kissmore our outlook. on: Murandu([email protected]) at - Key business developments Delta Corporation Head Office. Delta World, our newsletter for the employees - Business results; of Delta, is produced quarterly and is - New brands; intended to enhance our communication. We - Sustainable development initiatives; We are Delta Corporation – hope you find it interesting, informative and - And Delta Corporation Group news Brighter Together MISSION STATEMENT: To grow the value of the business in real terms on a sustainable basis through owning and nurturing local and international brands that are the first choice of the consumer. STRATEGIC PRIORITIES: • Creating a balanced portfolio of business • Building and nurturing strong brand portfolios that earn the support Organisational and affection of our customers and consumers • Growing the profitability of the business on a sustainable business Vision • Building sustainable alliances with key business partners. BUSINESS ETHOS: DELTA EMPLOYEES WILL BE GUIDED BY THE FOLLOWING BUSINESS ETHOS. • A desire to serve the consumers and customers with passion • A culture driven by the desire to improve and to excel in all we do • A bias towards action • A belief that the destiny of the Company is in our hands 4 DELTA WORLD | FIRST HALF 2018 peaking at an analyst briefing Delta Chief Executive Officer Person Gowero said during Sthe financial year ending March 31, 2018, DELTA POSTS Delta’s revenue climbed 18% to $572,2 million compared to $482,9 million during same period 27% Profit ending March 31, 2017. “Delta managed to grow its assets during its past financial year to $837,4 million from $704 million recorded at the end of the comparable period ending Increase March 31, 2017. Revenue growth of 18% resulted in earnings before interest and tax growing 28% above last year with a strong contribution from each Delta Corporation reported an increase in profit beverage group” said Gowero. after tax of $88,5 million for the financial year ending March 31 2018, after gains in soft drinks, Lager beer sales, which accounted for most revenue, lager and sorghum beer which were up 15%, 27% were at their strongest since 2014 and sorghum, and 9% respectively. through the Chibuku Super brand continued to rise for the sixth straight year. 5 CLEAR BEER BRAND ACTIVITIES Delta Invests $1,5 million in Castle Tankard elta Beverages have invested was part of Delta’s Corporate Social those important bold steps that will $1,5 million in the Castle Investment to develop communities in determine your future.” DTankard horse race since which the organisation operates. resuming sponsorship of the event in This year saw Mathew Thackeray and 2013, through consumer promotions “The sponsorship covers consumer horse Roman Discent winning the 56th and media workshops which has promotions and media workshops edition of the Castle Tankard $50 000- ensured the growth and success of to ensure basic standards are met in rich Grade One Horse race. the event. In a statement Delta Board staging an event of this nature,” said Chairman Canaan Dube said the event Dube. “These developments have The Castle Tankard is the oldest also been necessitated by our desire sponsored horse race in Southern to align with one of our Sustainable Africa as it dates back to 1960 when the Development imperatives in Growing National Breweries came on board and Livelihoods.
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