Share

Big jump in Astrapak profit

Johannesburg - Packaging company Astrapak (APK) reported on Thursday that its interim HEPS from continuing operations is expected to be between 810% and 830% higher than that reported in the comparative period, which will result in anticipated HEPS of between 46.4c and 47.4c from 5.04c in 2008.

EPS from continuing operations is expected to be between 810% and 830% higher than that reported in the comparative period, which will result in anticipated EPS from continuing operations of between 43.5 cents and 44.5c (2008: 4.78c) for the reporting period.

HEPS from both continuing and discontinued operations is expected to be between 360% and 380% higher than that reported in the comparative period, which will result in anticipated HEPS of between 41.4 cents and 43.2c (2008: 8.99c). EPS from both continuing and discontinued operations is expected to be between 260% and 280% higher than that reported in the comparative period, which will result in anticipated EPS from both continuing and discontinued operations of between 31.3c and 33.0c (2008: 8.73c) for the reporting period.

"Shareholders are reminded that the results in the comparative period was negatively impacted upon by certain once-off items of expenditure and a reversal of deferred tax assets totalling approximately 20 million rand.

"This resulted in a much lower base being established for comparative purposes and the improvements in earnings per share and headline earnings per share as reported in this announcement should be normalised for these items to determine the true growth from operational activities," said the company.

"The results for the reporting period should be influenced by the continued process of recovery initiated approximately 12 months ago. The strategy of extracting value by improving internal efficiencies and adopting best practices across the group continues to reap rewards.

"In addition, much improved cost and working capital management, cash generation and capital allocation, assisted by a lower interest rate environment, will have a positive impact on the results for the reporting period," said the company.

The group's interim results are expected to be finalised and published on SENS on 12 October 2009.

- I-Net Bridge

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.92
+0.1%
Rand - Pound
23.88
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders