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Nampak Heps up 21% as it prepares for tough second half

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Cape Town - In its unaudited group results for the six months to end-March 2016, pan-African packaging manufacturer Nampak [JSE:NPK] on Wednesday announced a 21% rise in adjusted headline earnings per share before foreign currency translation effects.

Headline earnings per share rose by 4%, after taking into account a R114m foreign exchange rate translation loss. Group revenue increased by 10% to R9.4bn, with group trading profit gaining 17% to R989m.

The company said it will raise R1.7bn through sale and lease back of the South African property portfolio to reduce liabilities. No interim ordinary dividend was declared.

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