Mpact reports robust cash flows and better second-half demand
Operational profits took strain from the failure of a municipal substation and lower prices for some products, but cash flows were resilient
08 February 2021 - 13:08
Paper and plastics packaging group Mpact says it managed to reduce debt and saw healthy cash flows in 2020, partly due to an improved second half as there was some recovery for businesses affected by strict Covid-19 lockdown levels.
The group, which is valued at about R2.5bn on the JSE, said in an update for its year to end-December operating profits were under pressure during the year, but net debt fell almost 40% to R1.4bn, while finance costs fell almost a third...
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