Sales volumes spur revenue growth for Nampak Zim

By Allan Mbotshwa

Nampak Zimbabwe Limited achieved sales for the year in inflation-adjusted terms of ZW$ 573,78 billion and a hyper-inflated trading income of ZW$ 114,56 billion for the year ended 30 September 2023.

A profit before tax of ZW$ 118,32 billion was achieved ahead of the 2022 trading period which recorded ZW$ 59,37 billion.

Other income, in the main, comprises exchange gains on foreign-denominated debtors and cash balances.

The Comprehensive Profit Attributable to Shareholders amounted to ZW$ 51,55 billion Earnings per share at ZW$ 6 822,52 cents improved on the prior year.

Capital expenditure in hyper-inflation terms amounted to ZW$ 13,14 billion and focused mainly on projects to increase capacity and improve plant services.

“There are some significant capital projects currently being reviewed by management and should funds become available, we intend to implement them,” said John Van Gend, Managing Director at Nampak Zimbabwe Ltd.

At the close of the financial year, Nampak employed 449 permanent employees compared with 467 in the previous year.

Overall, industrial relations have remained cordial, at the NEC level the wage increases during the year were more frequent, and there continues to be pressure from employees to cushion them against the current hostile economy.

The Group continuously reviewed its manpower structures to ensure they were in line with business requirements.

It also continues with its training programmes aimed at developing and retaining skills across the board.

Hunyani Paper and Packaging’s sales volumes for the full year improved by 13,4% compared to the prior year. The improvement was due to firm demand for tobacco cartons throughout the year, on the back of a record tobacco crop and improved regional demand.

Mega Pak’s full-year sales volumes decreased by 2,5% versus the prior year mainly due to severe power outages throughout the year in Ruwa, which hampered our ability to produce at full potential.

CarnaudMetalBox sales volumes for the full year grew by 4,7% compared to the prior year. The improvement was driven by strong growth in the closures and HDPE categories. Metals volumes were down on the prior year.

“Two Interim Dividends were declared during the year.

The first was of ZWL 100,43 cents per ordinary share to shareholders registered in the books of the Company on 3 March 2023, and the second was of ZWL 160,00 cents per ordinary share to shareholders registered on 12 July 2023,” said Mr. Van Gend.