by Rowan Goeller | Jul 28, 2022 | Packaging
by Rowan Goeller | Aug 10, 2021 | Packaging
Key message: Volumes recover well with paper margins boosted from switching low-margin paper exports to the local market. Some cost pressures should be recovered through price increases in 2H. Mpact released 1H FY21 results. Revenue increased 16.3% on a 13.2% increase...
by Rowan Goeller | Oct 1, 2020 | Packaging
by Rowan Goeller | Jun 4, 2020 | Packaging
Key message: Weakness in all regions before any Covid-19 impact means cash flows remain under pressure, and currency liquidity in Angola and Nigeria is deteriorating. Debt covenants remain a concern, with a relaxation most likely required for year-end. Nampak...
by Rowan Goeller | Apr 7, 2020 | Packaging
Key message: In the absence of certainty, we adjust our numbers to reflect 3-months of lost revenue to test robustness. We adjust our earnings to reflect an assumed 3-month loss of business due to the lockdown restrictions. The impact and extent of the lockdown can...
