In a trading statement released on November 28, 2023, Nampak Limited, provided shareholders with a comprehensive overview of its anticipated financial performance for the fiscal year ending September 30, 2023. The company is currently finalizing its audited annual results, and in accordance with the JSE Listings Requirements, Nampak has disclosed that there is a reasonable degree of certainty that its financial results will deviate by at least 20% from the previous year.
Before delving into the financial intricacies, let’s first look at Nampak’s share information. The company, with registration number 1968/008070/06, is listed on the Johannesburg Stock Exchange (JSE) with the following share codes and International Securities Identification Numbers (ISINs):
Furthermore, the company’s Legal Entity Identifier (LEI) is 3789003820EC27C76729. Notably, due to a recent share consolidation and rights offer, the weighted average number of shares in issue for the previous fiscal year has been restated in compliance with International Accounting Standard 33: Earnings per Share.
The crux of Nampak’s trading statement lies in the revelation that the financial results for the fiscal year 2023 are expected to significantly differ from the prior year. Let’s break down the anticipated changes:
1. Headline Loss per Share (HLPS) and Headline Earnings per Share (HEPS):
2. Loss per Share (LPS):
Several factors have contributed to the anticipated fluctuations in Nampak’s financial performance for the year ended September 30, 2023:
1. Higher Impairment Losses:
2. Forex Losses:
3. Net Finance Costs:
Nampak aims to provide shareholders with a comprehensive understanding of its financial performance by releasing the audited annual results on or about Monday, December 4, 2023. It’s crucial to note that the information presented in the trading statement has not undergone review or reporting by the company’s external auditors.
The challenges faced by Nampak in the fiscal year 2023 reflect the broader economic landscape and the intricacies of operating in diverse markets. The higher impairment losses, forex challenges in Nigeria, and increased net finance costs underscore the complexity of managing a multinational business in today’s dynamic environment.
As the company moves towards the release of its audited results, shareholders and stakeholders will be keenly watching for insights into Nampak’s strategies to navigate these challenges and position itself for sustainable growth in the coming years. The trading statement serves as a preliminary indication of the financial landscape, and the upcoming audited results will provide a more detailed picture of Nampak’s performance and its outlook for the future.