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NPK
NPK
NPK - Nampak Limited - Nampak 2012 Interim Results
NAMPAK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/008070/06)
("Nampak")
ISIN: ZAE000071676
Share code: NPK
NAMPAK 2012 INTERIM RESULTS
NAMPAK INCREASES PROFIT FROM AFRICA BY 60%
Nampak today released its results for the half-year ended 31 March 2012.
Headline earnings per share from continuing operations were 13% higher as a
result of an improvement in operating profit and a reduction in the effective
tax rate.
The dividend has been increased by 19% to 40.5 cents per share and is evidence
of the strong cash-generating ability of the company.
Group revenue increased by 10% whilst revenue from the rest of Africa increased
by 71% with a full 6 months contribution from the beverage can operation in
Angola. Trading profit from Africa increased by 60%.
Group operating profit from continuing operations increased by 8% and the
trading margin improved to 10.8%. An improvement in Plastics was partially
offset by a flat performance from Metals and Glass and softer performances from
Tissue and Paper and Flexibles.
CEO Andrew Marshall said, "The results are further evidence that the strategy we
embarked on a few years ago continues to bear fruit.
For the first time in many years there was good growth in beverage cans for
consumption in South Africa. Corrugated continued to improve with the paper mill
and converting plants operating at higher efficiencies. The diversified can
business also performed well on strong demand for aluminium aerosol cans.
The furnace rebuild at Glass was completed on time and within budget and with us
now owning 100% of the glass business we expect a greater contribution from this
business in the years ahead.
The higher trading income from the rest of Africa was especially satisfying. The
beverage can operation in Angola almost reached full capacity in its first year
of operation whilst the Zambian businesses performed substantially better than
last year. Our strategy of generating at least 25% of our revenue from the rest
of Africa remains intact with a number of exciting opportunities in the
pipeline.
In Europe the acquisition of Four Four Two last year contributed to a 41%
increase in trading income.
The trading margin and investment returns continued to improve with return on
equity increasing to 24% compared to only 14% in 2009."
Looking ahead Andrew Marshall noted "The next six months should see steady
growth in our South African operations. Benefits from the investments in the
rest of Africa are expected to continue contributing to an improvement in
profitability for the full year".
Contact:
Nampak Investor Relations
Graham Hayward
Tel: 011 719 6320
Cell: 082 800 7863
graham.hayward@za.nampak.com
Sandton
29 May 2012
Sponsor: UBS South Africa (Pty) Limited
Date: 29/05/2012 14:36:01 Produced by the JSE SENS Department.
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