Mpact, a paper and plastics packaging group, has raised its dividend following a significant increase in its interim profit.
- The CEO of Mpact, Bruce Strong, expresses confidence in the company’s high levels of debt, citing returns from recent investments in its plastic business and progress in cost-improvement initiatives.
- The company’s net debt has increased to R2.6 billion, while its market capitalization on the JSE stands at R4.1 billion.
- Mpact has made investments in its plastic business, which it expects to generate favorable returns.
- The company has also implemented cost-improvement initiatives, indicating progress in managing its expenses.
- Mpact’s decision to raise its dividend reflects its strong financial performance and positive outlook.