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Nampak earnings down 35-45%
Packaging company Nampak advised on Friday that its headline earnings per share and basic earnings per share are expected to be between 35% and 45% lower than the 109.9 and 110.4 cents per share respectively for the six months ended 31 March 2009 from the year earlier period.
The company said this is mainly attributable to the release of a tax provision of R102,7 million in the corresponding period of the previous year and an after tax loss on the fair value of financial instruments of R45,4 million against a gain of R75,3 million in the corresponding period of the previous year.
Nampak expects its trading income for the same period to be between 0% and 5% higher than its trading income for the corresponding period in the previous year.
The results in respect of the reporting period have not been reviewed or reported on by the Company's auditors and are expected to be finalised and published on SENS on 21 May 2009.
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