Bowler Metcalf to buy back its ‘undervalued’ shares
Strikes and load-shedding push operating profit down 12%, but the plastics specialist remains cautiously optimistic about SA
12 September 2019 - 08:36
Plastics specialist Bowler Metcalf said on Thursday it plans to spend about R40m buying back its “undervalued” shares, remaining optimistic regarding SA’s prospects despite coming out of a period characterised by load-shedding and industrial action.
The group’s operating profit from continuing operations fell 12% and turnover 6.1% to end-June, the company said, reporting “extraordinarily high” operating costs and tight margins...
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