Nampak Zimbabwe Limited recorded a revenue increase in the first half of its financial year ending March 2019 compared to the same period last year.
The locally-listed firm said its performance was aided by its printing and converting business, noting that the trading environment remained volatile.
“The trading environment remains difficult and is likely to remain so for the foreseeable future,” said Nampak in a half-year trading update.
Notwithstanding the difficult operating environment, the company said its paper and packaging subsidiary posted an improved performance.
The division, Hunyani recorded a 10 percent growth in volumes buoyed by demand from the tobacco sector.
“The corrugated products division experienced higher local and export tobacco box orders but suffered from stiff competition in the corrugated commercial sector,” said Nampak management in the trading update.
“The cartons, labels and sacks division volumes declined due to raw material constraints.”
Metal packaging firm, CarnaudMetalbox registered an increase in revenue although its volumes were down 33 percent on prior year attributable to low demand.
Meanwhile, MegaPak also saw its revenues jump but volumes were down 22 percent on prior year “due to raw material supply challenges and dampened demand from the beverage and cordials sector.”