January income from food, beverages industry increase

Income generated by the food and beverage industry in South Africa rose 3.7% year-on-year (y/y) to 2.797 billion rand in January, after declining 7.0% y/y in December 2009, according to data released by Statistics South Africa on Tuesday, 23 March 2010.

The increase was largely due to an increase in income from bar sales (25.8% and contributing 2.7 percentage points), Stats SA said.

The main contributor to the increase of 3.7% y/y in total income for January 2010 was caterers (27.1% and contributing 3.1 percentage points).

For the period November to January total income generated by the food and beverage industry was down 2.2% y/y. A decrease of 3.0% was reported for income from food sales, contributing -2.6 percentage points.

The decrease of 2.2% in total income for the three months ended January 2010 was due to a decrease in income reported by restaurants and coffee shops (-7.4% and contributing -4.3 percentage points).

However, this decrease was partially counteracted by increases in income reported by caterers (10.2% and contributing 1.3 percentage points), takeaway and fast-food outlets (3.1% and contributing 0.7 of a percentage point) and other catering services (2.2% and contributing 0.1 of a percentage point), Stats SA added.