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NPK - Nampak Limited - Nampak`s 6 month turnover reaches R10 billion PRESS RELEASE NAMPAK LIMITED Registration number: 1968/008070/06 (Incorporated in the Republic of South Africa) Share code: NPK ISIN: ZAE000071676 Nampak`s 6 month turnover reaches R10 billion Nampak, Africa`s largest packaging company today released its interim results for the six months ended 31 March 2009. The results show revenue up 14% to just over R10 billion which was achieved mainly through the recovery of raw material cost increases and improved trading from African operations. Despite the tough economic conditions, volumes in the main market, South Africa, held steady, but were lower in Europe. Trading income before abnormal items increased by 3% and was impacted by the late commissioning of the new paper mill at Rosslyn. Headline earnings per share were 39% lower due to a loss on the fair value of financial instruments compared to a gain and tax provision write-back last year. Total capital expenditure was R759 million with the major projects being the Rosslyn paper mill and the Angola beverage can factory. Andrew Marshall who took over as CEO on 1 March 2009 said "Performance in South Africa was in line with last year. Increased trading income was offset by additional costs from the late commissioning of the Rosslyn paper mill. In Africa, trading income improved significantly due mainly to Zambia and Nigeria. European trading income was lower due to higher polymer costs as well as a poorer performance by the Leeds U.K. carton operation. Going forward, the group expects current difficult economic conditions to continue in all the markets in which we operate. We shall therefore focus on improving or disposing of underperforming operations, the reduction of costs, management of working capital and reduction of capex." Contact: Nampak Investor Relations Graham Hayward Tel: 011 719 6320 Cell: 082 800 7863 graham.hayward@za.nampak.com Date: 21/05/2009 15:09:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
