Afrimat to report higher full-year EPS, HEPS
JSE-listed Afrimat expects to report a 22.1% to 32.1% year-on-year increase in earnings per share (EPS) to between 76.9c and 83.2c for the financial year ended February 28.
In a trading statement, Afrimat says its headline earnings per share (HEPS) are also expected to be between 27% and 37.1% higher year-on-year at between 91.8c and 99.1c.
As noted in a February business update to shareholders, the company achieved a good performance in the aggregates business, as well as the successful sale of noncore brick and block and readymix plants, during the financial year under review.
Cement segment losses also moderated, while local iron-ore sales volumes increased and export iron-ore sales remained satisfactory.
Since mid-February, Afrimat notes, the restart of certain ferrochrome smelters in South Africa led to Afrimat restarting the supply of anthracite from its Nkomati anthracite mine, in Mpumalanga.
This would, however, not impact on the results for the year ended February 28, which Afrimat expects to publish on or about May 20.
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