https://www.engineeringnews.co.za

Operational challenges dent Nampak earnings

Operational challenges dent Nampak earnings

Photo by Duane Daws

12th November 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JSE-listed Nampak expects its headline earnings a share from continuing and discontinued operations for the year ended September 30, to be between 47c and 56.3c lower than the 234.7c a share recorded in the 2014 financial year.

The packaging company added that its earnings a share would be between 18.6c to 26.1c lower than the 186.3c reported the year before.

CEO André de Ruyter commented that the legacy of operational challenges experienced during the year, including operating difficulties at its glass facility and the higher-than-anticipated spoilage at its Springs beverage can operation – although under control, had a negative impact on Nampak’s earnings.

“Outside South Africa, we continue to navigate a challenging macroeconomic environment in countries where we operate and currency issues in Angola and Nigeria have had an impact on our ability to repatriate earnings from these operations,” he said.

However, De Ruyter highlighted that the group’s balance sheet remained strong, with sufficient headroom to its debt covenants.

“We were able to defend our strong market positions with the successful conclusion of long-term sales agreements in our Bevcan, DivFood and Glass businesses,” he added.

Nampak’s results would be published on November 26.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.161s - 174pq - 2rq
Subscribe Now