AGRICULTURE
Headwinds pummel Master Plastics earnings
The company singles out land reform and the Western Cape drought among macro-economic troubles
The land policy debate is stifling investments into the agricultural sector, AltX-listed Master Plastics said on Tuesday. Master Plastics, a manufacturer and distributor of plastic packaging and agricultural products, singled out the mooted land reform changes and the drought experienced in the Western Cape among macro-economic "headwinds" it faced in the six months to the end of August. Master Plastics, which supplies the agricultural, food, produce, dairy and general industrial markets, was unbundled from parent company Astrapak on May 24 2017, in line with Astrapak’s strategy to become a focused rigid packaging business. When it listed on the JSE in 2017 Master Plastics’ immediate to medium-term growth plans focused on acquisitions and organic growth through investments into specific technologies. But Master Plastics’ tenure as a separately listed entity got off to a rocky start, with the firm lamenting difficult economic conditions. The group said on Tuesday a weak economy, incr...
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