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Trading Statement For The Year Ended 30 September 2019
Nampak Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1968/008070/06
Share Code: NPK
ISIN: ZAE 000071676
(“Nampak” or “the Company” or “the Group”)
TRADING STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2019
Nampak is in the process of finalising its results for the year
ended 30 September 2019 (“the period” or “the year”). In terms of
the JSE Listings Requirements, shareholders are advised that
Nampak is satisfied that a reasonable degree of certainty exists
that the financial results for the period to be reported upon
will differ by at least 20% from 30 September 2018 (“the prior
year”). The financial results for the year are expected to be as
follows:
Headline earnings per share (“HEPS”) and Earnings per share
(“EPS”) for the Group for the period have been impacted by
several factors, including:
1. The restatement of comparative results to reclassify Nampak
Plastics Europe from continuing to discontinuing operations
in line with the requirements of IFRS 5: Non-Current Assets
Held for Sale and Discontinued Operations;
2. The application of hyperinflationary accounting as required
by IAS 29: The Effects of Changes in Foreign Exchange Rates
to Nampak’s operations in Zimbabwe which have led to non-
monetary gains of R832 million and other significant
adjustments to equity;
3. The inclusion of a net foreign exchange gain of R76 million
on the agreement with the Reserve Bank of Zimbabwe on the
income statement;
4. A R1.9 billion net pre-tax foreign exchange loss in Zimbabwe;
5. Net impairment losses on property, plant and equipment; and
6. A higher than anticipated effective tax rate due to a change
in legislation in Angola in the second half of the financial
year capping the deductibility of losses from foreign
exchange movements.
HEPS AND EPS FOR CONTINUING OPERATIONS
- HEPS for continuing operations is expected to decrease by
between 67% and 72% to between 48.5 cents per share and 57.2
cents per share compared to restated 173.3 cents per share in
the prior year (previously reported 168.7 cents per share).
- EPS for continuing operations is expected to decrease by
between 74% and 79% to between 37.1 cents per share and 45.9
cents per share compared to restated 176.70 cents per share
in the prior year (previously reported 169.2 cents per
share).
HEPS AND EPS FOR CONTINUING AND DISCONTINUED OPERATIONS
- HEPS for continuing and discontinued operations of 151.4
cents per share in the prior year has declined to a headline
loss per share of between 18.9 cents per share and 19.9 cents
per share.
- EPS for continuing and discontinued operations of 76.0 cents
per share in the prior year has declined to a loss per share
of between 129.5 cents per share and 136.1 cents per share.
EPS includes capital profits, foreign exchange gain/losses,
onerous contract provisions and asset impairments. HEPS excludes
capital profits and impairments but includes foreign exchange
losses and onerous contract provisions.
The information contained in this trading statement has not been
reviewed or reported on by the Company's external auditors.
Nampak expects to release its results on Wednesday, 27 November
2019.
Bryanston
25 November 2019
Sponsor: UBS South Africa (Pty) Ltd
Date: 25-11-2019 01:15:00
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