SABmiller Zim subsidiary beats forecast
FMCG SUPPLIER NEWS
Fin24 - May 16th, 09:40
Harare - Delta Beverages, the Zimbabwe-based subsidiary of SABMiller [JSE:SAB], continued to defy the odds in the economically ravaged country with forecast-beating earnings for the year ended December 31 2012.
Delta’s earnings per share for the period under review outstripped analysts' expectations of about 7 US cents.
Earnings per share for the period at US8.49c was 36.4% higher than the previous comparative year's EPS of 6.22c.
The company also declared a healthy final dividend of 2.23c/share, bringing the total dividend for the year to 3.4c, a 63% increase over the prior year.
The declared dividend means SABMiller will get about $9.6m for its 36% shareholding.
Delta is now Zimbabwe’s biggest listed company, with a market capitalisation of $1.6bn as of Wednesday.
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