Mpact shares fell up to 5% on Monday after the company released a trading update in which it said it expected headline earnings per share (HEPS) in the year to December to drop at least 30%, year on year. The packaging group, which was unbundled from Mondi in 2011, said lower containerboard sales, higher tax rates and finance costs and a loss in Mpact Polymers weighed on the financial performance. Mpact had 42 operating sites as of June, of which 22 were manufacturing operations in SA, Namibia, Mozambique, Botswana and Zimbabwe.
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