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Mpact FY underlying operating profit drops 13.7% to R784.4m
The packaging group, which was unbundled from Mondi in 2011, said lower containerboard sales, higher tax rates and finance costs, and a loss in Mpact Polymers affected its performance.
Group revenue was up 5.8% to R10.1bn, with 2.8% of this growth attributable to the acquisition of Remade, which collects and trade recyclable material.
Underlying operating profit in the paper business dropped 17.3% to R664.1m, while that of plastic business dropped 15.3% to R168.4m.
The small-cap stock was down 2.12% to R29.56 in midday trade, valuing the company at about R4.9bn
Source: BDpro
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
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