Higher impairments, forex losses, finance costs contribute to losses for Nampak

28th November 2023

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

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JSE-listed packaging company Nampak expects to report a headline loss a share of between R461 and R476 for the financial year ended September 30, compared with headline earnings a share of R75.89 in the 2022 financial year.

Further, it expects to post a loss a share of between R1 169 and R1 178, compared with loss a share of R48.79 in the 2022 financial year.

Among the factors that impacted on its earnings a share and headline earnings a share for the 2023 financial year were an increase in impairment losses to R2.8-billion, compared with R512-million in the prior financial year; higher foreign exchange (forex) losses of R1.2-billion; and higher net finance costs of R1.2-billion.

The company will release its results on December 4.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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