'One minute to midnight': Investors wait anxiously for Nampak results as shares slide

Nampak's investors are anxiously waiting to see what turnaround steps new CEO Phil Roux will unveil when it releases results next week, after a dire profit warning on Friday sent the packaging group's shares crashing more than 15%.

The company said it expected the headline loss per share to come in between 53c and 58c for the six months ended 31 March, compared to headline earnings per share of 35.1c in the first half of financial year 2022. It cited higher net finance costs, impairment losses, and devaluation losses arising from Angolan and Nigerian exchange rate movement.

Once considered a blue-chip, Africa's biggest packaging group's market capitalisation has slumped to a mere R442 million, a shadow of its former self.