Nampak Pak up your troubles
Bringing up the rear of results season, packaging outfit Nampak have just reported their performance for the six months ending 31 March, and it’s a solid one. Turnover up 10% to R8.78 billion, operating profit up more modestly by 7.8% to R934 million as the boys from SENS will tell you, Nampak is Africa’s largest packaging manufacturer with operations in Angola, Botswana, Ethiopia, Kenya, Malawi, Mozambique, Namibia, Nigeria, Swaziland, Tanzania, Zambia and Zimbabwe, and the major supplier of plastic bottles to the dairy industry in dear old Blighty. And it is in Africa, unsurprisingly, that much of the score has come these last six months – profits from that region we somewhat patronisingly know as “the rest of Africa” rose 60% for the period.
Comment: Which is something we should put in our pipe and smoke as we recline in our chesterfields, pondering our first leisurely strides onto the continent formerly known as dark.