Nampak's shares rise on expected improvement in results
The JSE share price of packaging company Nampak rose by nearly 22% on June 20, after the company reported that it expected to report headline earnings per share (HEPS) for continuing operations of between R47 and R55 for the six months to March 31, compared with a headline loss per share (HLPS) of R55 for the six-month period ended March 31, 2023.
Earnings per share (EPS) for continuing operations would likely be between R46 and R54, compared with a loss per share (LPS) of R310.37.
HEPS for total operations would likely be between R30 and R34 for the six months under review, compared with an HLPS of R115.24 in the prior comparable period.
Further, Nampak said it was likely to report an LPS for total operations of between R10.50 and R12.50, compared with an LPS of R838.82 in the prior comparable period.
The company also pointed out to shareholders that the LPS and HLPS figures for the six months ended March 31, 2023, had been restated in accordance with International Financial Reporting Standard 5: Assets held for sale and discontinued operations, as well as owing to a September 2023 share consolidation and rights offer.
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