20 January 2018
   
Tsvangirai golden handshake confirmed
DisGrace sneaks out three luxury cars
ED cuts Bob Singapore crew from 38 to 22
Call for Diaspora Minister and MPs
ED so over confident it worries him
Priscilla demands coup ‘killings’ details
CBD maize roasting must end now: Min
Tsvangirai faces disgraceful exit: Judge
MORE NEWS
ZTA targets domestic tourism
SOE DEBATE: Privatise most parastatals
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Mapeza targets CAF CL group stages
Tendai Ndoro special - says Ajax coach
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Afdis revenues increase 11 percent
14/02/2014 00:00:00
by Business Reporter
 
 
RELATED STORIES

ZIMBABWE Stock Exchange-listed wines maker, African Distillers Limited’s (Afdis) has revealed that revenues for the half year ended December, 2013 increased by 11 percent to US$18,4 million from US$16,6 million.

Earnings-per-share increased by 27 percent to 1,38c while operating income increased by 33 percent to US$2 million from US$1,5 million.

The company said higher revenue growth was due to favourable sales mix which impacted positively on trading margins thereby resulting in an increase of two percent.

“During the period under review, local product portfolio continues to grow enhancing revenues and margins. The ready to drink products are now contributing to total business,” said Lydiah Mutamuko the company secretary.

“Localisation of production of ciders is at an advanced stage. Machinery has been ordered and production is targeted to start in the next financial year,” she said.

Going forward she said the company would strengthen its brand portfolio and intensify further investment into the business. The company is targeting sales growth and increased profitability into the future through cost effectiveness and improved production.

Last Afdis announced that its rights offer for US$5 million was subscribed by 67,83 percent with 10,4 million shares subscribed against the targeted 15,4 million.

The money from the rights offer is earmarked for the procurement of a new ready-to-drink plant that has the capacity to produce 27,000 bottles an hour. The plant, which will make 20 million litres of ciders annually, will be commissioned in July 2014.

The funds will also be channelled towards upgrading the existing manufacturing plant at the company’s premises in Stapleford base in Harare.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker