https://www.engineeringnews.co.za

Land sale likely to boost AECI’s H1 earnings by 47%

Land sale likely to boost AECI’s H1 earnings by 47%

Photo by BLOOMBERG

24th July 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

Explosives and specialty chemicals group AECI expects the R400-million in revenue it earned through the recent bulk sale of land in Somerset West to the City of Cape Town to bolster its headline earnings per share (HEPS) for the half-year ended June 30 by up to 47% to between 168c and 183c, it said on Friday.

The transaction, which saw the group realising profit of R294-million, was also expected to lift earnings per share (EPS) by between 7% and 11% to between 38c and 59c for the six-month period.

The group noted that, while earnings in the prior corresponding period were positively impacted by proceeds from the bulk sale of the group’s surplus property assets in Modderfontein, Gauteng, the EPS and HEPS benefits of this were partly offset by the negative effects of the strikes in South Africa’s platinum mining sector on AECI’s businesses between January and June. 

The company expected to release its results on July 28.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.078 0.126s - 156pq - 2rq
Subscribe Now