Afrimat earnings slowly rise following pandemic impact

7th October 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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Industrial minerals and building materials supplier Afrimat is expecting to report headline earnings a share of between 181.9c and 191c for the six months ended August 31, representing an increase of between 0% and 5% year-on-year.

Earnings a share are expected to be between 183.5c and 192.7c, also between 0% and 5% higher year-on-year.

The company further expects profit before interest and taxes to increase by between 10% and 15%, especially as its bulk commodities segment experienced “exceptional” growth year-on-year as a result of favourable pricing.

The construction materials and industrial minerals segments, meanwhile, recovered from the Covid-19 impact and returned to profitability, Afrimat confirms.

The company’s financial results will be released on or about October 29.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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