Nampak’s accounting coffin: where bad deals die
Nampak was once one of the JSE’s bluest of blue chips. The way it does its accounts may explain its fall from grace
Shareholder activist Chris Logan might finally have got to the bottom of Nampak’s consistently poor results over the past several years.
Essentially, he argues, management buries its failures in an accounting coffin marked "abnormal items", where it can then ignore them.