Nampak falls, cautions on local outlook

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Johannesburg - Shares of South African packaging firm Nampak shed almost 4 percent after the group cautions that business in its domestic market, which accounted for three-quarters of revenue last year, would “remain challenging” in the near future.

As of 14:40 SA time, its shares were fetching 35.70 rand, down 3.9 percent on the day, making it the third biggest decliner on the All-Share index, which was 0.33 percent lower.

Nampak also reported a 10 percent rise in first-half profit on Tuesday, helped by rising demand in African countries beyond its home market. - Reuters

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