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Aluminium supplier Hulamin expects normalised earnings a share for the six months ended June 30, 2014, to be some 40% higher than in the corresponding period the year before, while headline earnings per share (Heps) and basic earnings per share (Eps) were likely to increase by 95%.
The company said in a statement on Friday that the significant increase in Heps and Eps was owing to the distortion caused by the accrual of severance costs in June 2013.
“These severance costs were excluded from the determination of normalised earnings in June last year,” it stated.
Hulamin was currently finalising its interim results, which it expected to release on July 28.