Astrapak Limited’s annual Results Presentation was held at the Hilton Hotel in Sandton, Gauteng, on Thursday 16 April and at the Southern Sun Newlands in the Western Cape on Friday 17 April 2015. The year ended 28 February 2015 concluded the first phase of the strategic turnaround of the company, which has been achieved within the targeted two financial years under new executive leadership.
The company is focused on exiting businesses that do not fit with the technology focus and long-term return criteria while bringing in the correct human capital.
During the past two years, Astrapak Limited has been “Charting a New Course” by fundamentally reshaping the company to become a more focused group of nine manufacturing entities of scale, servicing key customers and utilising the moulding and forming technologies.
Some of the key financial features of the year included continuing revenue increases by 7,8% to R1, 4 billion; proceeds from the sale of non-core businesses and the disposal of assets yielded R148 million during the year; and profit from continuing operations before exceptional items increased by 49% to R61, 5 million.
Click here to view detailed information in the Astrapak SENS Booklet - Summarised audited consolidated financial statements for the year ended 28 February 2015.