SABMiller's Zimbabwe unit FY earnings rise 42 pct

* Revenues up 45 pct to $408 million

* Total beverage sales volumes up 15 pct

HARARE, May 12 (Reuters) - SABMiller's Zimbabwe unit recorded a 42 percent jump in full-year earnings in the year ending March 2011 on the back of increased demand as the country's economy recovers.

Delta Corporation (DLTA.ZI), which is 36.8 percent owned by SABMiller (SAB.L) (SABJ.J), said headline earnings per share rose to 4.50 cents in the year from 3.16 cents previously.

Headline EPS, the main profit measure in southern Africa, strips outs certain one-time items.

Revenues for the period amounted to $408 million, up from $281 million previously, Delta said. After-tax profit increased to $54.1 million in the year, from $35.5 million the previous year.

Delta invested $82 million to expand its operations during the year.

Zimbabwe's economy has started to grow again under a power-sharing government set up by President Robert Mugabe and Prime Minister Morgan Tsvangirai two years ago, after a decade of contraction and hyperinflation. (Reporting by Nelson Banya; Editing by Hans Peters)