Aluminium body vehicle
Aluminium supplier Hulamin expects its basic earnings per share (EPS) for the first half of the year to have increased by between 94% and 113% year-on-year.
The company posted basic EPS of 47c for the six months ended June 30, 2022.
EPS are, therefore, likely to be 91c and 100c apiece for the reporting six months.
Normalised headline earnings a share are expected to have increased by between 83% and 103% year-on-year to between 66c and 73c.
Normalised headline earnings is defined as headline earnings excluding metal price lag and material non-trading expense or income items which, owing to their irregular occurrence, are adjusted for to better present earnings attributable to the ongoing activities of the group.
Hulamin will release its interim results on or about August 14.
The company says its earnings may have been supported by growing demand in the electric vehicle market, which increasingly prefers using aluminium to reduce the weight of vehicles and make them quieter.