Subscribe & Follow

Advertise your job vacancies

Jobs

Group Head - HSE (Health, Safety & Environment) Lusaka
HR - Talent Acquisition Durban
Senior Debtors/Creditors Clerk Babelegi
Internal Operations Administrator Durban
Artisan Aid Cape Town Cape Town

Astrapak earnings down 51.2% to 10.7c

30 Sep 2013

Packaging group Astrapak reported a 51.2% drop in headline earnings per share (HEPS) to 10.7c in the six months to August‚ from 21.7c in the same period a year ago.

Revenue from continuing operations rose 1.2% to R1.2bn‚ representing a 5.4% volume decline and 6.6% average selling price increase.

Profit from continuing operations before interest‚ tax‚ depreciation and amortisation fell 25.2% to R95.3m. Profit before exceptional items fell 38.6% to R43.5m‚ representing a group trading margin of 3.6% against 5.9% a year ago.

An exceptional loss of R35.1m was recorded‚ relating to insurance and impairments. A R295.4m provision for insurance proceeds was previously raised‚ while a final insurance settlement of R311.4m was agreed with no restrictions on utilisation. The claim relates to the January fire at East Rand Plastics.

Astrapak's chief executive Robin Moore said the group's recovery was "very much on track" in the review period. He said: "Our two-year recovery programme began at the start of this financial year and although performance over the review period was subdued and trading conditions difficult‚ in key respects our figures reflect progress somewhat ahead of expectation."

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za