EARNINGS
Master Plastics meets forecast in maiden results
Master Plastics, the AltX-listed group unbundled from Astrapak in May 2017, is on track to match projected earnings before interest, tax, depreciation and amortisation (ebitda) in the year to February 2018, despite poor trading conditions. In its maiden interim results to August 2017 released on Tuesday, it reported ebitda of R27.8m and headline earnings per share of 12.2c for the six-month period. This was compared to its prelisting statement forecast of ebitda of R 54.7m and headline earnings per share of 23.68c for the full 12 months. "It was an important set of results for the group … as it would signal to the market our ability to perform to the forecast for the financial year ending February 28 2018, as was contained in our pre-listing statement," group CEO Manley Diedloff said. "The reported result for the first six months illustrates the business is currently performing marginally ahead of where it would need to be to achieve its full-year forecast," he said. "We are satisfi...
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