JSE-listed paper and plastics packaging company Mpact increased its revenue for the six months to June 30 by 1.1% year-on-year to R5.96-billion, and declared an interim dividend of 15c a share, despite the trading environment being challenging, CEO Bruce Strong has said.
The growth in revenue was supported by higher volumes in paper manufacturing, paper converting and plastic bins and crates, as well as an improved product mix in plastic fast-moving consumer goods (FMCG) at its Wadeville, Gauteng, operations.
Gross profit increased by 3.1% to R2.35-billion, with the gross margin improving to 39.4%.
However, earnings before interest, taxes, depreciation and amortisation from continuing operations decreased by 4.4% to R614-million and operating profit decreased by 15.7% to R284-million.
Earnings per share declined to 50c a share, down from 105c a share in the prior comparable interim period.
