mpactExpected earnings gain boosts shares

Shares in Mpact gained yesterday after the packaging group said that it expected its annual earnings a share to jump more than 20 percent. The shares advanced 1.64 percent to close at R19.80. “Estimated finance costs are lower as a result of net debt having being substantially reduced as part of the capital restructuring prior to listing on the JSE in July 2011,” Mpact said yesterday. An improved trading performance for the year to December last year would contribute to the increased earnings. On September 12 last year, the firm reported a solid performance with interim revenue up 11.7 percent to R3.2 billion due to modernising and optimising Mpact’s existing operations as well as developing new business opportunities. The company’s market capitalisation stood at R3.26bn yesterday. – Staff reporter