Nampak margins to take hit from El Nino

NAMPAK Zimbabwe (Nampark)’s margins are likely to decline owing to El Nino, power cuts and low disposable incomes, despite its revenue reaching a five-year high on record tobacco output, a research firm has predicted.

Given the southern African nation’s past experiences with drought in critical years such as 1991-1994, 2002, 2004, 2012, 2016 and 2017, experts say the impending El Niño phenomenon in 2023/24 might exacerbate the nation’s vulnerability.

Nampak’s topline for the year ended September 30, 2023 (FY 2023) rose 45,57 percent to $573,77 billion from $394,14 in FY 2022 supported by record tobacco output.

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