Bowler Metcalf shows modest growth
South African plastic packaging manufacturer and beverage bottler Bowler Metcalf said on Wednesday (13 March) its performance in the second half of 2012 was a modest improvement over the same period last year.
Chief executive Paul Sass said the group was doing well to manage a slew of uncertain economic factors.
"Despite tough trading conditions‚ group revenue increased by 1% and attributable income and headline earnings by 7%‚" he said.
Revenue for the six month period was R331.1m, up from R327.5m in the same period last year. Headline earnings per share were 43c compared with 40.3c previously.
Sass said the plastic and filling operations remained the core business but material price volatility‚ as a result of higher oil price sand exchange rate fluctuations‚ were affecting the company.
The group maintained a dividend cover of about 2.5 times earnings and a dividend of 17.5c per share was declared.