https://www.engineeringnews.co.za

Hulamin further slashes FY earnings expectations

18th February 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

Aluminium manufacturer Hulamin on Thursday revised its expected earnings for the 2015 financial year downward, saying it now expected more than 50% decreases across the board on the back of the metal price lag loss widening from R53-million in June to R161-million for the full year to December 31.

Hulamin expected its headline earnings a share to plunge some 66% to 68% to between 36c and 38c apiece for the year under review, compared with 112c in the prior year.

Earnings per share (EPS) for the 12 months to December 31, were likely to fall 56% to 58% to between 50c and 53c, compared with the 120c a share reported in the prior year.

Normalised EPS for the period under review were expected to be 52% to 55% lower than the 111c reported the year before.

“Manufacturing performance improved significantly in the second half of the year, notwithstanding further interruptions in the supply of liquefied petroleum gas.

“However, the London Metal Exchange-quoted aluminium price declined further in line with the global fall in commodity prices,” the company explained.

Hulamin expected to release its results for the year on February 22.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

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







301

sq:0.048 1.035s - 122pq - 2rq
Subscribe Now