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Africa|Building|Coal|Construction|Financial|Housing|Industrial
Africa|Building|Coal|Construction|Financial|Housing|Industrial
africa|building|coal|construction|financial|housing|industrial

Brikor anticipates more than 100% improvement in full-year earnings

24th May 2024

By: Marleny Arnoldi

Deputy Editor Online

     

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AltX-listed construction materials provider Brikor expects to post earnings a share of between 0.9c and 1.1c for the financial year ended February 29, compared with a loss a share of 0.7c in the 2023 financial year.

This equates to a more than 100% year-on-year increase in earnings a share.

In turn, headline earnings a share are likely to be between 1.2c and 1.4c in the reporting year, compared with a headline loss a share of 0.1c in the prior year.

Brikor will publish its full-year results before the end of May.

Brikor’s 40%-owned associate, Zingaro Holdings, reported a profit of R13.1-million in the six months ended August 31, 2023, compared with a loss of R1.7-million in the first half of the prior year, which contributed R7.2-million to Brikor’s profits in the period.

The company’s bricks segment reported an operating profit before interest and taxes of R17.1-million, while its coal segment realised R9.8-million in profit, in the first half of the year.

Brikor supplies building and construction materials to the low-cost housing, residential, commercial and industrial markets of South Africa.

The company’s share price on the JSE rose by more than 30% on the news of an expected turnaround in earnings.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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