Mpact revenue increased 1.1% to R5.96bn, but EBITDA declined 4.4% to R614m and operating profit declined 15.7% to R284m as lower selling prices and higher input costs weighed. Paper Manufacturing profitability fell sharply, more than offsetting improved profitability in Paper Converting and Plastics. HEPS fell sharply to 48.1c from 104.1c. Cash generation improved substantially, with cash generated from operations rising to R448m from R173m, while net debt fell to R2.6bn from R3.0bn. The interim dividend was cut 50% to 15c.
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