Nampak poised for further growth in Europe
packaging group's overall turnover to greatly exceed last year's
figures and that its European operation will be more profitable,
according to the company's recently published annual report.
Nampak Group chairman Trevor Evans expects the packaging group's overall turnover will greatly exceed last year's figures and that its European operation will be more profitable, according to the company's recently published annual report.
The report highlights how Nampak's fortunes have been turned around by the merger with Malbak, together with the acquisition of Crown Cork and Seal's 15 per cent stake in Nampak's metals business. According to Evans, the group's outlook for the coming year has improved considerably because of these moves.
"Our product offerings in Africa make us the most diversified packaging company in the world, and we are now a significant player among non-integrated global packaging companies," Evans stated in the report. He also highlighted the fact that the fragmentation of the European market in plastic packaging and folding cartons would provide opportunities for consolidation and increased business opportunities for the group.
He stated that the momentum of the South African operations would continue.
Evans also said that sterling profit in Europe was expected to be "substantially better" this year, despite trading conditions and the decreasing value of the currency.
"The emphasis for the next 12 months in Europe will be to optimise the businesses we are in, whilst at the same time evaluating various growth opportunities," said Evans.
