14 February 2013

Zimbabwe: AFDIS Records 21 Percent Jump in Production

AFRICAN Distillers Limited says it has laid the foundation for future growth with a strong emphasis on local production following a 21 percent growth for the half-year ended December 31, 2012. Local production grew to 1,7 million litres, accounting for 62, 9 percent of total revenue collected.

In a statement on the audited results for the half-year released yesterday, Afdis said growth had been experienced in the brown spirits market while there was opportunity for growth in the white spirits market.

During the period under review, sales volumes grew by 22 percent from the previous year's corresponding period to 3, 2 million litres.

There was an increase of 15,9 percent in turnover to US$16,6 million while operating income also grew by a 37 percent margin to US$1,5 million.

Profit after tax was slightly lower than the comparable period from US$1,2 million in December 2011 to US$1 million in 2012. The company said the new product development, standardisation of packaging and product upgrades that had been initiated had been well received in the market.

Last year Afdis said it had responded to the findings from a market research by improving its product presentation to create a lasting image in the market by standardising its packaging.

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