The Company today issues a trading update for the third quarter and nine months to 31 December 2019.
The trading environment is characterised by high inflation and an unstable exchange rate with limited availability of foreign currency in the formal banking channels. Consumer spending is constrained by low disposable incomes as salary and wage adjustments continue to lag the increases in prices of goods and services. Our distribution and production operations were impacted by the power outages and constrained fuel supplies. The sourcing of imported raw materials and services remains challenging due to the delays in servicing overdue payables.
Lager beer volume declined 43% for the quarter and 46% for the nine months compared to the same period last year. There is a focus on supplying key brands and packs and conserving foreign currency.
The Sorghum beer volume in Zimbabwe declined by 41% for the quarter and 25% for