The PIC which invest on behalf of government employees pension funds has increased its stake in Nampak to 20.54%
The JSE-listed packaging company says its new head Erik Smuts will start on Monday, 10 days earlier than originally planned.
Nampak headline earnings per share is down more than two-thirds for the financial year ended September 30, 2019.
Food can volumes were down due to a loss of a major contract for canned vegetables.
Nampak is ramping up production of aluminium cans as Africa’s biggest producer of beverage packaging responds to consumers’ global retreat from plastic.
The rand continued to weaken but the local bourse showed improvements as American and British markets were back online.
Nampak has announced a 21% rise in adjusted headline earnings per share for the six months to end-March, as it gears up for what it sees as a challenging second half.
Ted Black moves upstream and takes a look at packaging group Nampak. He takes a look at employee targets, and by using the ROAM model shows a varying take on this critical number.
The manufacturing sector in South Africa is under intense pressure with increasing headwinds placing the long-term viability of industry under threat. It is the government’s responsibility to create an enabling environment, but manufacturers must look at their own operations and decide what efficiencies they can unlock to create value
Nampak says first-half profit has fallen as declining margins at its South African unit offset gains elsewhere on the continent.
Apart from a renewed bout of load-shedding and power stations that are falling apart, the new Eskom CEO heads an operation with earnings that are far exceeded by its debt repayments.
His predecessor, Andre de Ruyter, is set to take over as CEO of debt-laden power utility Eskom, which is currently grappling with rolling power outages.
The packaging company has warned of plummeting earnings and heavy foreign exchange losses.
Shareholder-activist Theo Botha says he will raise concerns about yet another R8m bonus for the Nampak CEO, at a time when the company is not performing well.
Packaging company Nampak has posted a 2% revenue increase to R8.8bn in earnings for the six months to end-March 2018.
Overberg Asset Management analyst Kirk Swart looks at shares that are often cast aside, which might offer value in this week's five shares to watch.
Nampak has invested over $2m into its Zimbabwe unit, which posted a $2.4m interim operating profit after benefiting from stronger demand for packaging material.
Nampak says investments into additional capacity and expanded product range shows it remains committed to Zimbabwe, despite the country's economic headwinds.
Nampak is targeting 100% market share in Angola as the country’s buyers seek a local manufacturer in response to government plans for an import duty on the industry.
Nampak Zimbabwe, the Zimbabwean affiliate of Nampak, says cheap imports are affecting its sales volumes and profit margins.
Cape TownO'Dwyer Personnel
DurbanvilleZaPOP Media (Pty) LtdR1 000.00 Per Month
Atlantic SeaboardShimansky Jewellers
R 2 150 000
R 2 630 000
R 2 395 000
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