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Zambian Breweries (ZB) has recorded low sales volumes in the fourth quarter of this year due to the increase in excise duty on clear beer.
Announcing its latest trading update, Global Brewer SabMiller said Zambian Breweries encountered a challenging fourth quarter ending March 31, 2014 due to the excise-related pricing taken in January, limiting annual lager sales volumes growth to 6 per cent.
Government in the 2014 National Budget, increased excise duty on clear beer from 40 per cent to 60 per cent a move which took a toll on the company’s sales volumes.
SABMiller, however, said, soft drinks sales volumes growth of 6 per cent on the other hand, reflected some good performances in Zambia.
“Other alcoholic beverage volumes ended 2 per cent lower on an organic basis, primarily as a result of lower sales in Zambia,” Sub Miller Chief executive officer, Alan Clark said.
Mr Clark said the brewer, however, continued to deliver top line growth for the year, despite some challenges experienced by the company during the fourth quarter.
“A combination of our global overview and deep local insights enables us to fine tune our operations in each market and to deliver commercial progress.This underpins the confidence in our ability to deliver higher revenue growth in the long-term,” he said.
