Business recalls dire impact of unrest, lockdowns

Distell.jpg

Distell

by MTHULISI SIBANDA 
Africa Editor
JOHANNESBURG, (CAJ News) JOHANNESBURG Stock Exchange (JSE)-listed companies are are still counting their losses after the civil unrest in South Africa and the global COVID-19 lockdowns.

Results are for the six months ended December 2021.

Distell, the alcohol and beverages brewer, recalled that South Africa, its largest market by revenue, had seen the government imposing restrictions on the trading of alcoholic beverages.

This saw a reduction of the trading period by 25 days during the current period and 38 days in the previous six months.

In addition, civil unrest in July in KwaZulu-Natal and parts of Gauteng provinces caused approximately R100 million (US$6,5 million) in damages to one of its Distribution Centres.

South African port disruptions in July 2021 also had a material adverse effect on wine exports and performance in the period.

The international business recorded a single-digit revenue decline due to one of its largest revenue contributing regions, Taiwan, experiencing COVID-19 related on-consumption channel closures for half of the trading period.

The Group’s interim financial results will be released on February 24.

Retail company, Woolworths, reported its turnover and concession sales decreased by 2,1 compared to the corresponding period the previous year.

It attributed this to the extended lockdowns in Australia and by the civil unrest in South Africa.

The anarchy in South Africa following the arrest of former president, Jacob Zuma, led to the looting and burning of properties.

Over 300 people were killed mostly during stampedes.

– CAJ News

 

 

 

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