Picture: ISTOCK
Picture: ISTOCK

Shares in plastics and packaging group Transpaco fell 3.33% in Wednesday trading on the back of the company’s decline in half-year earnings.

Transpaco, which makes, recycles and distributes plastic and paper packaging, said its headline earnings per share for the six months to December fell 7% to 117.9c.

Turnover also declined to R903.6m from R912.5m.

Group margins remained under pressure from lower-than-expected sales volumes and macroeconomic factors, said CEO Phil Abelheim.

He said management "kept expenses well-contained and controlled working capital to ensure a continued strong balance sheet."

Abelheim said that despite falling volumes, all operations made a positive contribution to group operating profits, with some units outperforming the prior year.

The group declared an interim dividend of 48c, down from 52c the previous period.

Please sign in or register to comment.