Voluntary Trading Update – Revenue growth of 5% was achieved, led by a 9% increase in Metals, offset by declines of 6% in Plastic and Paper. Bevcan Angola showed promising revenue growth, while Bevcan South Africa grew by 6%. The Plastic and Paper operations in Zimbabwe were negatively impacted by a weaker closing exchange rate at the end of the current period. The operating profit decreased compared to the prior period due to higher net foreign currency losses. Additionally, a 45% increase in net interest paid resulted in a small loss after tax. Angola and Nigeria have experienced a significant increase in the US dollar weighted average cost of capital. Impairment tests are being conducted, with material asset and goodwill impairments expected in both Angola and Nigeria. The South African beverage can market showed modest growth. Demand in Zimbabwe remained strong despite lower sales. Cash transfers and foreign exchange losses in Angola and Nigeria were identified as a constraint.
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