BUSINESS DAY TV
Africa’s ‘long-term demographics remain compelling’
Nampak CEO Andre de Ruyter discusses full-year results from the packaging group and its foreign-exchange loss from its Nigerian and Angolan operations
Andre de Ruyter is the CEO of Nampak. BUSINESS DAY TV: Foreign-exchange losses have led to a 48% drop in Nampak’s full-year profit, which has in turn caused the company to withhold a dividend payout as it tries to conserve cash. Joining us on News Leader for more on the numbers is CEO Andre de Ruyter. Andre, you did say crushed was a bit tough because the headline figures do distort the facts and if you strip out abnormal items and currencies and things, operationally it looks like the company has done very well. ANDRE DE RUYTER: Yes, if you look at the metrics we were able to increase sales by 11%, trading profit up 4%, operating profit up 26%, net profit after tax up 39% and overall that is a strong indicator of a solid performance across the board. Now no bones about it, R681m forex (foreign exchange) loss, mostly from our operations in Nigeria and Angola, that hurt, but we managed to overcome that and still deliver a strong set of results. BDTV: And, of course, it’s a reality th...
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