Mpact wraps up 2022 with 25.3% HEPS hike

Mpact, a leading packaging manufacturer, has wrapped up the year 2022 with impressive financial results, including a 25.3% increase in headline earnings per share (HEPS). CNBC Africa's Zanele Morisson recently sat down with Bruce Strong, Chief Executive Officer of Mpact, to discuss the company's performance and future outlook. Strong highlighted Mpact's sustainability-driven business model and its success in navigating challenges while driving growth and profitability. He emphasized the company's focus on the circular economy, where they not only produce packaging but also recycle waste materials to create new products, contributing to environmental sustainability and profitability simultaneously. Mpact's commitment to ESG principles is not just a side initiative but deeply embedded in its core business strategy. Strong revealed that Mpact's strategy revolves around targeting growth areas such as fruit export packaging, anticipating and investing in long-term projects, diversifying away from consumer spending, and expanding waste management solutions to underserved communities. Despite facing cost inflation and consumer budget constraints, Mpact remains resilient and proactive in adapting to market dynamics. The company's decision to invest significantly in upgrading its paper mill in Mkondo demonstrates a long-term commitment to capacity expansion and operational efficiency. The emphasis on sustainable solutions and efficient waste management practices aligns Mpact's business goals with environmental stewardship and profit generation. Strong's message resonates with stakeholders as he stresses the importance of sustainable profit generation to drive future investments, employee well-being, and customer satisfaction. Mpact's integrated ESG strategy not only benefits the environment and society but also ensures long-term business viability and growth.