African Distillers (Afdis) Limited has reported an increase in volumes for the first quarter to June 2021 as COVID-19 lockdown measures eased on top of widespread acceptance of its latest offering in the brown spirit product line.
The Company registered a volume growth of 56 percent for the quarter over the same period last year owing to improved access to the market.
Spirit volume grew by 17 percent over prior year benefiting from, “the good performance of brown spirits (and) widespread market acceptance of the newly introduced Gold Blend Number 9,” the company said.
Earlier in January to February of 2021, the Zimbabwean market had been put under a hard lockdown following a spike in infections during the second wave which somewhat slowed down business.
The good agricultural season as well as the partial easing of COVID-19 lockdown restrictions around March going forward improved consumer spend and the general business operating conditions.
The availability of foreign currency generated from trading enabled the Company to meet its current obligations.
The business however, continued to witness the influx of cheap and illicit spirits in small packs from several producers in the market.
“Wines and Ready to Drink (RTD) volumes grew 113 percent and 116 percent respectively, riding on improved availability in the quarter,” said Afdis.
Revenue for the first quarter increased by 38 percent in inflation adjusted terms due to, “firm demand for the company’s products which resulted in higher volumes.”
