Nampak increases profit by 21% and dividend by 30%
BRAND ACTIVITY
Nov 25th 2011, 07:31
Nampak today released its results for the year ended 30 September 2011.
Headline earnings per share from continuing operations were 21% higher as a result of a 22% improvement in operating profit and a reduction in finance costs. Net gearing improved to 10% from 32% in September last year.
The dividend/distribution has been increased by 30% to 108 cents per share for the year.
Operating profit from continuing operations increased by 22% and the trading margin improved to 9.8% from 9.1% last year. This was mainly due to better results from the diversified canning, corrugated and flexible divisions as well as the sale of underperforming businesses.
CEO Andrew Marshall said, “The strategy of focusing on our core businesses and fixing, closing or disposing of those businesses which were underperforming and detracting from our overall performance continued to contribute to an improvement in our results for the year. We invested a further R676 million in those businesses where we have sustainable competitive advantages.
We have also recently reached agreement to acquire the remaining 50% of the glass business that we do not already own for approximately R900 million and we will be looking to grow our glass operations in South Africa and the rest of Africa.
The trading margin and investment returns have improved significantly and the balance sheet is now in a much healthier position. Net debt in the company has been reduced to R582 million compared to R3.4 billion two years ago.
The group is now more focused and our stronger balance sheet allows us to actively pursue a number of exciting new growth opportunities in South Africa and the rest of Africa”.Click here for more information on Nampak
Related Activity
 | 20 MAR |
As Africa’s largest manufacturer of flexible packaging, Nampak Flexible is currently producing some exciting results in the multi-layer plastics recycling arena through projects that focus on absorbing plastic waste from their operations.
 | 07 FEB |
Nampak DivFood, South Africa’s leading manufacturer of food, aerosol, general line cans and decorative tinware officially opened its new 5-colour Crabtree FastReady printing line for customers to view at the company’s Vanderbijlpark plant Customer Day.
 | 17 NOV 2011 |
Nampak today announced that it has acquired the other 50% share in its glass packaging business from Wiegand-Glas for R938 million.
 | 14 NOV 2011 |
Nampak DivFood, South Africa’s leading manufacturer of food cans, aluminium aerosols, general line cans and decorative tinware, has won the SABS (South African Bureau of Standards) Chairperson’s Award for 2011.
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