Woes of JSE-listed factories in the spotlight on Tuesday
The problems local manufacturers face due to unreliable electricity and repatriating profit from the rest of Africa will be highlighted in Nampak’s and Omnia’s results
How badly South African factories have been hurt by the deterioration of municipalities and the difficulty in doing business in the rest of Africa will be in the spotlight on Tuesday with Nampak’s and Omnia’s results. Nampak expects to report headline earnings per share (HEPS) growth of about 21% while basic earnings per share (EPS) more than doubled, the packaging group said in a trading statement on November 19. The group is in the process of selling its glass division, and its trading update provided separate figures for continuing operations, where HEPS is expected to grow about 15% and EPS by about 37%. Nampak issued a business update shortly before the end of its financial year in September in which its lists of highlights included “improved cash transfer of R3.1bn from the rest of Africa, including Angola”. “Liquidity in Angola improved significantly during August 2018 and has continued to remain strong. Nampak has been successful in repatriating $117m to date,” the business ...
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