Lower sales hit Transpaco results

Shares in plastics and packaging group Transpaco fell 3.33% in Wednesday trading on the back of the company's decline in half-year earnings.

24 Feb 2017

Transpaco, which makes, recycles and distributes plastic and paper packaging, said its headline earnings per share for the six months to December fell 7% to 117.9c.

Turnover also declined to R903.6m from R912.5m.

Group margins remained under pressure from lower-than-expected sales volumes and macroeconomic factors, said CEO Phil Abelheim.

He said management "kept expenses well-contained and controlled working capital to ensure a continued strong balance sheet."

Abelheim said that despite falling volumes, all operations made a positive contribution to group operating profits, with some units outperforming the prior year.

The group declared an interim dividend of 48c, down from 52c the previous period.

Source: Business Day

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.

Go to: http://www.inet.co.za