Nampak reports profit jump

07 Dec, 2018 - 00:12 0 Views

eBusiness Weekly

Zimbabwe Stock Exchange- listed packaging company Nampak Zimbabwe (Nampak) profit for the year up to September  jumped 89,3 percent to $14,5 million from $7,6 million in the prior period despite difficulties in accessing foreign exchange.Buoyed by exceptional performance from its operating units Mega Pak, Softex tissue products, Hunyani and CamaudMetalbox, Nampak’s revenue rose to $116,8 million from $96,3 million which is a 21,3 percent growth in income.

Nampak attributed the improved performance to tight cost control, volume growth and improved product demand owing mainly to a good tobacco season leading to a year-end cash balance of close to $85 million.

Furthermore Mega Pak’s (Nampak unit) performance significantly bolstered the company’s fortunes driven by surge in exports to Central Africa. — Herald Business.

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