JSE-listed packaging company Nampak expects to report a headline loss a share of between 53c and 58c and a loss a share of between 380c and 420c for the six months ended March 31.
This compares with the headline earnings a share of 35.6c and earnings a share of 34.9c reported for the six months to March 31, 2022.
Nampak attributes the swing to a headline loss a share and a loss a share to significantly higher net impairment losses and net devaluation losses arising from Angolan and Nigerian exchange rate movements, as well as higher net finance costs.
"Negotiations to conclude credit-approved term sheets for a refinancing package for the next five years are progressing, with a milestone conclusion date of June 15.
"These negotiations, together with the group’s progress in terms of the implementation of the restructuring plan, will determine the size of the required rights offer, which will be announced in due course as part of Nampak’s ongoing shareholder updates," the company says.
Nampak will publish its interim results on May 24.