Nampak H1 revenue up 4pct to $47,5 mln on strong demand

Nampak H1 revenue up 4pct to $47,5 mln on strong demand

HARARE, May 3 (The Source) – Packaging group Nampak Zimbabwe reported a four percent rise in revenue to $47,5 million in the six months to March compared to $45,7 million last year on strong demand from the beverages and dairy sector.

Operating profit before interest and tax at $2,4 million was up from $854,000 last year, driven by cost containment and the investment of $8,6 million in new assets, resulting in improved productivity and efficiency

The group was created following the merger of Hunyani, CarnaudMetalbox and MegaPak last August. South Africa’s Nampak holds a controlling 51.43 percent interest in the merged entity.

Beverages manufacturer Delta Corporation, swapped its 51 percent shareholding in Megapak for a 23 percent stake in the new firm. Agro-processor TSL also exchanged its 40 percent shareholding in Hunyani for a 17 percent stake in Nampak Zimbabwe.

During the period under review the group spent $2,7 million in the purchase of plant and machinery to enhance capacity.

Earnings per share (EPS) grew from 0,02 cents to 0,2 cents.