Nampak PAT rises 460 times to $1,78bn

NAMPAK Zimbabwe Limited (NZL) profit-after-tax rose nearly 460 times to $1,78 billion in its first-half financial performance ended March 31, 2020 owing to net monetary gains on hyperinflation.

In the comparative 2019 period, from the one under review, NZL recorded a profit after tax of $3,87 million.

In a statement accompanying the results for the period under review, NZL managing director John van Gend said despite the inflationary environment, all units continued to trade profitably as treasury and cash flow management remained key focus areas.

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