NPK
NPK
NPK - Nampak Limited - Nampak`s 6 month turnover reaches R10 billion
PRESS RELEASE
NAMPAK LIMITED
Registration number: 1968/008070/06
(Incorporated in the Republic of South Africa)
Share code: NPK
ISIN: ZAE000071676
Nampak`s 6 month turnover reaches R10 billion
Nampak, Africa`s largest packaging company today released its interim
results for the six months ended 31 March 2009.
The results show revenue up 14% to just over R10 billion which was
achieved mainly through the recovery of raw material cost
increases and improved trading from African operations. Despite
the tough economic conditions, volumes in the main market, South
Africa, held steady, but were lower in Europe.
Trading income before abnormal items increased by 3% and was impacted
by the late commissioning of the new paper mill at Rosslyn.
Headline earnings per share were 39% lower due to a loss on the fair
value of financial instruments compared to a gain and tax
provision write-back last year.
Total capital expenditure was R759 million with the major projects
being the Rosslyn paper mill and the Angola beverage can factory.
Andrew Marshall who took over as CEO on 1 March 2009 said "Performance
in South Africa was in line with last year. Increased trading
income was offset by additional costs from the late commissioning
of the Rosslyn paper mill. In Africa, trading income improved
significantly due mainly to Zambia and Nigeria. European trading
income was lower due to higher polymer costs as well as a poorer
performance by the Leeds U.K. carton operation.
Going forward, the group expects current difficult economic conditions
to continue in all the markets in which we operate.
We shall therefore focus on improving or disposing of underperforming
operations, the reduction of costs, management of working capital
and reduction of capex."
Contact:
Nampak Investor Relations
Graham Hayward
Tel: 011 719 6320
Cell: 082 800 7863
graham.hayward@za.nampak.com
Date: 21/05/2009 15:09:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
