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Nampak H1 earnings fall 8%, shares tumble

Glass unit disappoints.

South African packaging manufacturer Nampak posted an 8% fall in half-year earnings on Tuesday largely due to its loss-making glass unit, sending its shares lower.

Nampak, which has operations in 12 African countries, said headline earnings per share (EPS) for its continuing operations declined to 101 cents in the half-year to the end of March. Headline EPS is the main profit gauge in South Africa that strips out certain one-off items.

Shares in Nampak fell 13.33% to R36.40 at the close. 

 

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