R/€ = 15.15Change: -0.13
R/$ = 14.28Change: -0.14
Au 1072.00 $/ozChange: -0.05
Pt 852.50 $/ozChange: 7.00
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?

And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters About Us
RSS Feed
Article   Comments   Other News   Research   Magazine  
Jul 30, 2012

Hulamin recovering from mill failure, earnings down

Aluminium|Hulamin|Aluminium Products Producer|Product|Products|Richard Jacob
© Reuse this

JSE-listed aluminium products producer Hulamin regained momentum as it worked to recover from a 25 000 t production backlog created by the failure of a motor on its Camps Drift hot mill, in Pietermaritzburg, during April.

The group’s record achievement of 219 000 t annualised production volume during the first four months of the year was offset by a 46-day downtime as repairs to the mill were made.

The mill was recommissioned to full capacity in June and, while the first half of the year absorbed about 60% of the negative impact, the second half would still register some of the remnants of the mill shutdown, said CEO Richard Jacob.

Hulamin was still on track to ramp up production of rolled products to 250 000 t/y.

Meanwhile, revenues fell to R3.1-billion, from R3.3-billion during the six months to June 2011. Rolled products decreased 7% from R3-billion to R2.8-billion, while extrusions increased slightly to R347-million, from 346-million in the prior year.

Hulamin experienced a 9% drop in rolled products sales during the six months to June 2012, reaching sales of 189 000 t annualised, compared with the 208 000 t annualised sold in the corresponding period last year.

Extruded product sales remained stable during the first half.

Jacob said that Hulamin’s order book remained healthy for the remainder of the year, despite weakening global demand in general. Demand for rolled products in the domestic market was subdued and imports of competing products continued to negatively impact on prices.

Hulamin recorded lower basic earnings a share of 18c, compared with 22c in the corresponding period the year before. Basic earnings a share remained at 23c.

Net profit reached R73-million, in line with the profit recorded in 2011.

The group decided not to declare an interim dividend for the six months ended June.


Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
Other Metals News
ArcelorMittal's South African unit priced its $320-million cash call at more than a 50% premium on Tuesday as it battles falling steel demand and rising costs, sending its shares soaring. "They're sending the signal that someone with deep pockets is backing them and...
South Africa’s crude steel production increased by 23.8% year-on-year to an estimated 650 000 t in October. Global crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was down 3.1% year-on-year to 134-million tons.
Students from the Southern African Institute of Steel Construction (SAISC) School of Draughting at Genrec Engineering, in Wadeville, Germiston, have excelled in the recently held on October 2nd  University of Johannesburg Department of Civil Engineering Technology’s...
Latest News
Business confidence has dropped by a full 15 points over the past year to reach its lowest level in five years, the latest Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) has shown. After falling from 43 to 38 in the third...
JSE-listed beverage, food and nonperishable packaging manufacturer Nampak’s basic earnings a share rose 3% to 228.3c for the year ended September 30, from 221.7c the year before. The company also reported an increase in group revenue and trading profit of 13%, to...
As Parliament mulls the new regulatory framework to govern South Africa’s financial industry, the sector is preparing for its promulgation; however, it will require a complete “rethink” of the way regulators guide financial institutions. The tabling of the Financial...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
Updated 6 hours ago The BMW Group will invest R6-billion at BMW Group South Africa’s (BMW SA’s) Rosslyn plant to produce the next-generation X3 sports-activity vehicle (SAV) for the local and export markets. Rosslyn will continue production of the current 3 Series through its lifecycle,...
Updated 6 hours ago The lack of consequences for poor performance and transgressions on the part of contractors remains a significant hurdle to tackling South Africa’s service delivery challenges, delegates heard at the Consulting Engineers South Africa Infrastructure Indaba, on...
Updated 6 hours ago City of Ekurhuleni executive mayor Mondli Gungubele earlier this month officially named the city’s bus rapid transit (BRT) system, Harambee.
NICK CHRISTODOULOU As about 58% of data stored by organisations is dark, they must identify this dark data to expose risks and valuable information
Updated 6 hours ago About 58% of unstructured data stored by companies is dark data, which means that the value or regulatory importance of the data has not been determined. Subsequently, most of the stored data add costs, rather than increasing revenue or reduce regulatory risks, says...
BRIAN VERWEY Effective management, review and administration of non-core elements can improve business operations and increase revenue and decrease unforeseen risks
Updated 6 hours ago Effective logistics, import/export and manufacturing consulting services require detailed industry knowledge and experience, but can add significant value to these industries by providing expert advice on various technical elements in their value chains, says...
Alert Close
Embed Code Close
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96