Nampak Zimbabwe pulled profit after tax up 57 percent to hit 7.81 million dollars for the year, despite revenue dropping from 101 million to 93 million as volumes slumped across the board. The packaging company benefited from a 66 percent drop in tax expenses and avoided the big monetary loss that hit them the previous year, which pushed earnings per share up 56 percent.
Volumes fell hardest at Mega Pak with a 9 percent decline from competition pressures, while the commercial carton business at Hunyani took a 3 percent hit. Management kept things afloat through cost-cutting and efficiency tweaks as new competitors jumped into every segment of their business.
The firm stayed debt-free and ended the year with 6.76 million in cash, up from 1.86 million the year before, which gives them room to fund capacity expansion projects they are reviewing.
Volumes fell hardest at Mega Pak with a 9 percent decline from competition pressures, while the commercial carton business at Hunyani took a 3 percent hit. Management kept things afloat through cost-cutting and efficiency tweaks as new competitors jumped into every segment of their business.
The firm stayed debt-free and ended the year with 6.76 million in cash, up from 1.86 million the year before, which gives them room to fund capacity expansion projects they are reviewing.
