Tough trading environment put Transpaco under pressure in H1
JSE-listed plastics and packaging group Transpaco reported a 4.7% fall in operating profit to R78.5-million in the six months to December 31.
While in line with expectations, the company said its performance remained under pressure from the continued challenging economic environment, leading to a 5.4% decline in headline earnings a share to 168.2c.
However, the decrease in sales and continued margin pressure was partially offset by stringent, well-managed expenses, resulting in the operating margin remaining on par with the previous year.
Headline earnings declined by 5.3% to R55.3-million, while net asset value per share increased by 7.9% to R18.03.
"Our balance sheet remains robust owing to our strict working capital management strategy," said CEO Philip Abelheim.
All Transpaco divisions traded favourably, notwithstanding a decline in the plastics division, which was impacted on by price deflation.
Looking ahead, the group will continue its proven business strategy, targeting organic growth, while maintaining strict financial control and, at the same time, identifying and pursuing appropriate acquisitions.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation