Interim CEO Phil Roux says Nampak is looking to reduce costs and working capital, as well as sell assets
Packaging group Nampak suffered a R2.4bn loss in the six months to March while its net debt rose 23% to almost R6bn, raising questions about the revised R1bn rights offer proposal, and if it will be sufficient to repair its balance sheet.
Nampak, which is one of SA’s biggest packing companies, is caught up in historical dollar-denominated debt accumulated over the past decade, when it expanded several countries on the continent including Nigeria. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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