Edward West edward.west@inl.co.za MPACT, the listed paper and packaging business and recycler, will focus investment inwards as the group tackles a variety of challenges in the new financial year, including a possible escalation of raw material costs due to the crisis in Ukraine.
The group, which yesterday released annual results, said it had bought back shares worth R257 million in the year to December 31, and shares worth R88m the year before.
It also declared a final dividend of 50 cents per share, compared with zero dividend declared in the 2020 financial year, returning another R74m to shareholders.
Chief executive Bruce Strong, in an interview with BR, said the focus for the new financial year was on investing in the group, and the board had approved more…