November 26: Despite an overall decline in sales and a drop in beverage and food can volumes, South Africa-based Nampak posted strong results for the year ended in September, describing itself as “back on track”.
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The group, which makes a diverse range of packaging products in Africa and Europe, has “sold or closed a number of underperforming businesses and have focused on growing our core profitable operations,” said chief executive Andrew Marshall.
Sales fell by 5 percent to R18.55 billion (US$2.6bn) while profit after tax more than tripled to R835 million ($117m).
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