Nampak forecasts higher profits
FMCG SUPPLIER NEWS
IOL Business - Nov 8th 2011, 08:59
Packaging group Nampak (NPK) advised on Monday that its headline earnings per share for the year ended September 2011 from continuing operations, are expected to be between 15% and 25% higher than the 142.2 cents per share in 2010.
The group expected earnings per share from continuing operations to be between 20% and 30% higher than the 130.9 cents per share previously.
The increased earnings, Nampak said, were due mainly to improved results from the diversified canning, corrugated and flexible operations, the turnaround or sale of underperforming operations and a reduction in finance charges due to lower gearing.
HEPS from continuing and discontinued operations were expected to be between 15% and 25% higher than the 149.7 cents per share for the year ended September 2010.
EPS from continuing and discontinued operations were seen between 20% and 30% lower than the 140.5 cents per share in 2010, due to the loss on the sale of the European folding cartons and healthcare businesses which were sold effective February 28, 2011.
Nampak expects to publish its results on about November 23. - I-Net Bridge
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