Failure of a municipal substation in Ekurhuleni cost one of its mills 22 days of production, and R27m
Paper and plastics packaging group Mpact is expecting a sharp fall in profits for its half year to end-June amid electricity disruptions and weak international demand for some of its paper products.
That mill lost 22 production days in the period, at a cost of about R27m, due to the catastrophic failure of a municipal substation in Ekurhuleni, the group said in a trading update. Earnings before interest, taxation, depreciation and amortisation are expected to fall 31% in its half-year to end-June from the prior period's R575m, while headline earnings per share could fall as much as 87.2%.
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