WATCH: How foreign-exchange losses hit Nampak
Nampak CFO Glenn Fullerton talks to Business Day TV about the group’s full-year results
Zimbabwe’s currency issues are weighing on Nampak. The packaging group suffered a net devaluation loss of R1bn due to hyperinflation in that territory. This was the main driver behind the company’s 76% slump in earnings per share from continuing operations.
The group expects the sale of Nampak Glass and Nampak Nigeria Cartons to raise R1.9bn as the manufacturer focuses on reducing debt and cutting costs.
CFO Glenn Fullerton joined Business Day TV to discuss the numbers in greater detail.
Or listen to the full audio: