Zimbabwe beverage company Delta made $807.4 million last year despite taxes on sugar hurting profits. The government charged $0.001 per gram of added sugar, which cost Delta $21.1 million total, with $14.7 million paid just from soft drinks. Delta kept prices low for customers, but this squeezed how much money they could make. Regional business problems in South Africa and Zambia also slowed down company growth overall. Cheaper imported drinks gave Delta more competition in local markets.
Financial experts expected Delta to earn between $862 million and $870 million, but the company fell short of these targets. The business still grew 5% compared to last year during tough economic times. Some experts see Delta as an example of how Zimbabwe's business might be improving. Delta plans to update its factories and make new products that people want to buy. The company remains the biggest on the Zimbabwe stock markets and shows how the entire country's economy might perform going forward.
Financial experts expected Delta to earn between $862 million and $870 million, but the company fell short of these targets. The business still grew 5% compared to last year during tough economic times. Some experts see Delta as an example of how Zimbabwe's business might be improving. Delta plans to update its factories and make new products that people want to buy. The company remains the biggest on the Zimbabwe stock markets and shows how the entire country's economy might perform going forward.
