• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

See More

Earnings drop for Astrapak

May 09 2011 15:48 I-Net Bridge

Company Data

Astrapak Limited [JSE:APK]

Last traded 4
Change 0
% Change 0
Cumulative volume 380947
Market cap 0

Last Updated: 17-04-2015 at 04:13. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Leaner Astrapak remains cautious

Astrapak earnings set to tank

Astrapak Heps take a leap

Astrapak earnings shoot up 824%

Big jump in Astrapak profit

Astrapak earnings shoot up

Johannesburg - Packaging group Astrapak [JSE:APK] said on Monday that its fully diluted headline earnings per share plunged 37.1%  for the year to February to 73.5 cents from 116.9c.

For the year under review, turnover grew to R2.71bn from R2.61bn.

"The increase in turnover was as a result of a 4.9% increase in volumes and a 1.4% decrease in average selling prices, illustrating the difficulties experienced in timeously passing on price increases in a very competitive market," it said.

Gross profit decreased 11.9% to R575.5m from R653.5m.

Other costs totalled R383.7m (2010: R376.5m), an increase of 1.9%.

The group said it had continued to benefit from lower interest rates and vastly improved treasury, cash management and working capital disciplines.

Astrapak said the financial results reflected the increased cost of operations, primarily energy, labour, distribution costs and depreciation.

"The depreciation charge was not fully matched by the related revenues during the financial year as a result of depressed consumer demand within certain markets, but this situation will be rectified as economic activity and consumer spending improves into the future," it said.




Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!


Luxury living

Exciting new luxury SUV arrives in SA!
Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote