Photo by: Duane Daws
JSE-listed materials supplier Afrimat expects to report basic earnings per share (EPS) of between 59c and 64c, when it releases its interim results for the six months ended August 31.
This would be between 20% and 30% higher than the EPS of 49.1c recorded in the first half of the previous financial year.
Similarly, headline earnings per share (HEPS) would be between 59c and 64c, compared with HEPS of 49.3c recorded in the prior corresponding period.
Afrimat noted that its mining and aggregates business had generated satisfactory profits with good contributions from most operations, while the group’s industrial mineral operations had performed well and the Infrasors turnaround initiatives were progressing as planned.
The concrete-based products business had achieved a good increase in profits resulting from cost reduction initiatives.
Afrimat’s interim results would be published on November 6.