Nampak falls, cautions on local outlookComment on this story
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