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Wisynco submits proposal for Deposit Refund Scheme

Wisynco has submitted a proposal for a national Deposit Refund Scheme.
 
A deposit-refund scheme combines a tax on product consumption with a rebate when the product or its packaging is returned for recycling.
 
In its interim financial report, which was publish on the JSE website yesterday, Wisynco said the proposal was presented to the Partnership for Prosperity. 
 
The company said the outline was endorsed in principle by the Partnership.
 
It said the final proposal incorporating further feedback is expected to be presented within the near future. 
                                                                                
 
Meanwhile, Wisynco is reporting revenues of  J$5. 82 billion  for the third quarter ended March 31.
 
This represents an increase of  13.5 percent over the $5.13 billion  achieved in the corresponding quarter last year. 
 
Gross profit was up 16 .2 percent at $2.09 billion  over the $1.8 billion  achieved in the same quarter of  2017. 
 
And Stationery and Office Supplies says it achieved record sales duing the January to March quarter.
 
It earned $279 million   during the three months.
 
Sales peaked at $102 million  in March when it completed a $22 million   Government contract.
 
Stationery and Office Sales recorded $44 million  profit  during the quarter up from $24.5 million   last year.


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