SABMiller's Zimbabwe unit H1 earnings up 46 pct

SABMiller's Zimbabwe unit registered a 46 percent increase in earnings in the half-year to September, driven by strong beverage sales growth as the country's economy continues to recover.

Delta Corporation, which is 38 percent owned by SABMiller, reported basic earnings per share of 2.49 cents in the first half, up from 1.71 cents previously. After-tax profit was $30.29 million, compared to $20.47 million in the correpsonding period of 2010.

Revenue rose to $254.8 million, up from $181.8 million last year, as total beverage volumes jumped 23 percent on the previous year's figure.

Delta CEO Joe Mutizwa told an analyst briefing that the firm would spend $78 million to expand operations in the full-year to March 2012, up from the initially budgeted $67 million.