Mpact Ltd : In light of decline in sales volumes, uncertain demand in near term, relatively high waste paper prices, paper production was cut by about 4 pct of capacity . Earnings are expected to continue to be impacted during second half by a higher effective tax rate and higher finance costs . Revenue increased by 6.2 pct to 4.7 billion rand for 6 months ended June 30 versus 4.4 billion rand in June 2015; underlying operating profit of 322 million rand .We anticipate subdued trading conditions across most sectors serviced by group during second half of 2016.
Mpact Ltd : Sees revenue for 6 months to June 30 to increase by approximately 6 pct (June 2015 revenue: 4.41 bln rand) . Sees HEPS for 6 months to June 30 between 90 and 100 cents per share, June 2015 HEPS: 134.4 cents per share .Says estimated earnings before interest and tax (EBIT) for 6 months decline of between 4 - 9 pct (June 2015 EBIT: 342 mln rand).