PACKAGING group
According to the group, revenue for the third quarter and nine months to
Despite the challenges of raw materials availability, Nampak traded profitably during the period.
Group managing director,
"Net working capital is positive. The group had a cash holding of
At
Volumes in the commercial sector grew by 63 percent in the prior year nine month period driven by improved demand and ongoing customer recovery. However, the tobacco sector was 4 percent below the prior year nine month period on the back of lower tobacco crop last year and the delayed start to packing this year.
Covid-19 had an adverse impact on regional markets as the business recorded a year to date export market decline of 19 percent.
Volumes at Mega Pak jumped 60 percent in the quarter and 59 percent for the nine months on increased demand across all areas of the business. The improved volumes continued in the beverage manufacturing sector, which contributed to increased preforms volumes while large injection moulding also continued to perform well.
Exports into the region were however affected by the Covid-19 pandemic.
Carnaud Metalbox recorded volume growth of 69 percent and 23 percent for the quarter and the nine months respectively, compared to the previous financial periods.
Cumulative metal volumes were up 7 percent with food can and crowns leading the recovery despite a shortage of tinplate. According to the group, plastics performance was mixed, with higher HDPE bottle volumes 52 percent ahead of the previous year being off-set by a decline in injection closure volumes, which were 8 percent below the prior period.
Total capex amounted to
Going forward, the group is downbeat about its fourth quarter performance due to the disturbances in neighbouring
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