Packaging group Nampak Zimbabwe reported a four percent rise in revenue to $47.5 million in the six months to March compared to $45.7 million last year on strong demand from the beverages and dairy sector.
Operating profit before interest and tax at $2.4 million was up from $854 000 last year, driven by cost containment and the investment of $8.6 million in new assets, resulting in improved productivity and efficiency
The group was created following the merger of Hunyani, CarnaudMetalbox and MegaPak last August. South Africa’s Nampak holds a controlling 51.43 percent interest in the merged entity.
Beverages manufacturer Delta Corporation, swapped its 51 percent shareholding in Megapak for a 23 percent stake in the new firm.
Agro-processor TSL also exchanged its 40 percent shareholding in Hunyani for a 17 percent stake in Nampak Zimbabwe.
During the period under review the group spent $2.7 million in the purchase of plant and machinery to enhance capacity.
Earnings per share (EPS) grew from 0.02 cents to 0.2 cents.- The Source