Nampak – 1H FY24 Results
Key message: Remarkable result with operational improvement well ahead of expectations and the asset sale process nearing finalisation.
Nampak – Sale of Bevcan Nigeria
Key message: A big hurdle has been cleared – the sale of Bevcan Nigeria. The price appears reasonable given the challenges faced by the business and the weak Nigerian consumer.
Nampak – The “New” Nampak
Key message: Moving to become a focussed bevcan producer, there is value uplift through improved performance (Divfood), better commercial terms with customers and the removal of liquidity concerns.
Mpact – 1H FY23 Results
Key message: Price momentum carries Mpact through demand pressure, but MT investments provide growth opportunities.
Mpact – Trading Update
Key message: No loadshedding surprises – Mpact’s manufacturing operations appear to be relatively resilient. Price increases are more than balancing general weak demand.
Nampak –1H FY23 Results
Key message: A focus on renegotiating imbalanced pricing contracts will be key to a sustainable future.
Diversified Industrials, Construction & Materials: Post Results Wrap and Chart Book – March 23
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Mpact – FY22 Results
Key message: Pricing momentum flows into FY23, and the capex program caters for growing demand in the agricultural sector.
Nampak – 1Q Trading Update
Key message: More divisional data has been released and we update our model and forecasts after a 1Q Trading Update.
Nampak – FY22 Results
Key message: The rights issue is now required as potential asset sales are now unlikely and WC absorbs further cash.