News

Transpaco, the South African packaging firm, has recorded "pleasing" annual results, despite rising interest rates and raw material and energy costs.

Transpaco recorded sales of R720.2m (£50.4m) for the 12 months to 30 June 2008, an increase of 33% compared with the same period last year. Pre-tax profit rose by 18% to R37.2m.

The firm said turnover had been boosted by organic growth in its packaging and plastic bags divisions.

It added that high virgin raw material prices had benefited the recycling division as plastic firms sought to use more recycled material. The supply of post-consumer waste to its operation has improved, the firm said.

Transpaco also operates in the printed folded-carton and rigid and flexible plastic packaging sectors.