Nampak CEO Andre de Ruyter says the company feels vindicated by its substantial investments in the rest of Africa, particularly Nigeria and Angola, in the six months to March. The diverse packaging group enjoyed record sales of beverage cans in Angola, improved results from Bevcan in Gauteng, robust Nigerian general metal packaging markets, upbeat liquid packaging in SA and buoyant paper packaging in Zimbabwe. Despite a difficult general trading environment — with R2.4bn of cash frozen in Nigeria and Angola — group operating profit soared 30% to R1.1bn in the period, while trading profit rose 12%. An improvement in operational performance helped overall margins grow to 11.9%, from 10.5% in financial 2016.
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