adminPaper and packaging group Nampak Zimbabwe’s volumes for the year to September 30, 2019 were down as hyperinflation took its toll on the business, managing director John Van Gend said in a trading update released last week.
Key subsidiary, Hunyani Paper and Packaging’s volumes for the full year declined by 8 percent compared to the prior year comparative.
Local commercial volumes declined by 54 percent, although these were lessened by improved local tobacco packaging volume growth of 34 percent due to a higher crop size.
Nampak subsidiary, CarnaudMetalbox recorded a 40 percent declined in volumes for the full year compared to the prior year as major customers recorded a reduction in their market segment demand.
Mega Pak volumes for the full year declined by 27 percent due to falling consumer demand in the beverage and cordials sectors and raw material supply constraints. — Reuters.
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