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Africa's biggest paper and plastics packaging and recycler Mpact - whose R2.2 billion pipeline of capital commitments is over half its market value - says it's pleased that its push into higher-margin products is already helping keep its profit growth above that of its debt.
Spending on solar and generators means it is now able to mostly deal with up to Stage 6 load shedding at its key operations, while it is busy expanding its capacity for products such as paper grocery bags and packaging for fruit exports.
Mpact, valued at about R4 billion on the JSE, reported on Thursday its profit climbed almost 37% to R331 million in its half-year to end-June. Revenue climbed almost 9% to R6.2 billion, despite sales volumes decreasing by just over 10%, amid pressure on consumers, as well as SA's industrial and agricultural sectors.
