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Nampak profits sink on currency volatility in Zim

PUBLISHED: Wed, 27 Nov 2019 14:17:59 GMT

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Nampak has recorded a final year loss after currency volatility from its operations across the continent. The packaging manufacturer had net foreign exchange losses of R1.9 billion, mainly from its operations in Zimbabwe. Headline earnings are down 69 per cent to 54.1 cents and the company will not be declaring dividends until its debt levels are reduced. CNBC Africa spoke to Glenn Fullerton, Chief Financial Officer at Nampak for more.


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