Delta in solid performance
Business Writer
Delta last week released a strong set of results for the full year to March 2021 despite operating in an environment that was characterised by restrictions to social and economic activity implemented by authorities in response to the advent of the novel coronavirus (Covid-19) pandemic.
Delta largely makes more sales when people are free to go about their social and economic activities.
During the period under review, at least five months (March to May 2020 and January to February 2021) were under high lockdown levels.
In addition to reduced business activity arising from the Covid-19 lock downs, the operating environment was characterised by depreciation of the local currency and prevalence of multiple exchange rates, and hyperinflation which eroded consumer disposable incomes.