|
NPK
NPK
NPK - Nampak Limited - Nampak back on track
NAMPAK LIMITED
Registration number 1968/008070/06
Incorporated in the Republic of South Africa
ISIN: ZAE000071676
Share code: NPK
("Nampak")
NAMPAK BACK ON TRACK
Nampak today released its results for the year ended 30 September 2010.
Operating profit increased by 126% following good turnarounds in the paper
businesses in South Africa and Europe and the sale or closure of a number of
loss-making businesses. Despite tough trading conditions in South Africa and
Europe, the trading margin increased to 8.3% from 5.8% last year.
Headline earnings per share were 79% higher as a result of the improvement in
operating profit and a reduction in finance costs. These, together with
significantly lower abnormal items resulted in earnings per share increasing by
over 300%
Cash generated from operations was a record R2.5 billion with major reductions
in working capital and capital expenditure contributing to this achievement.
The dividend has been increased by 98% making a total distribution of 83 cents
per share for the year. Together with the more than 50% increase in Nampak`s
share price over the past eighteen months shareholder value has increased
significantly.
CEO Andrew Marshall said, "We are pleased that the revised strategy implemented
in 2009 has resulted in our improved performance. We sold or closed a number of
underperforming businesses and have focused on growing our core profitable
operations. Almost R800 million was invested in those businesses where we have
sustainable competitive advantages. The Angolan beverage can factory is on track
for commissioning in the first half of next year and together with other
investments will add to future earnings growth. The downward spiral in
profitability, trading margins and cash generation has been reversed and I am
confident that the momentum that has been created will continue into 2011".
Contact:
Nampak Investor Relations
Graham Hayward
Tel: 011 719 6320
Cell: 082 800 7863
Graham.hayward@za.nampak.com
Date: 22/11/2010 13:11:01 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
