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Afrimat CEO Andries van Heerden. Picture: MARTIN RHODES
Afrimat, which supplies industrial minerals and construction materials, on Thursday reported a 25.3% rise in headline earnings per share (HEPS) to 95.2c in the six months to August from the year-earlier period.
The company said it its results statement on Thursday that the double-digit growth in HEPS was due to strong performance in its mineral producing operations.
The company consists of a mining and aggregates division, which houses the recently acquired Glen Douglas and the Clinker Group, and a concrete-based products unit.
"This pleasing performance was further supported by improved efficiencies, cost reduction and the disposal of marginal businesses," CE Andries van Heerden said in a statement.
Revenue was up 15% to R1.2bn from the year-earlier period and net profit lifted 27% to R139.3m.
The small-cap company has endeared itself to investors, with the share price spiking from lows of about R3 in 2010 to R27 currently, which values the company at about R4bn.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Mineral operations boost Afrimat
Afrimat, which supplies industrial minerals and construction materials, on Thursday reported a 25.3% rise in headline earnings per share (HEPS) to 95.2c in the six months to August from the year-earlier period.
The company said it its results statement on Thursday that the double-digit growth in HEPS was due to strong performance in its mineral producing operations.
The company consists of a mining and aggregates division, which houses the recently acquired Glen Douglas and the Clinker Group, and a concrete-based products unit.
"This pleasing performance was further supported by improved efficiencies, cost reduction and the disposal of marginal businesses," CE Andries van Heerden said in a statement.
Revenue was up 15% to R1.2bn from the year-earlier period and net profit lifted 27% to R139.3m.
The small-cap company has endeared itself to investors, with the share price spiking from lows of about R3 in 2010 to R27 currently, which values the company at about R4bn.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.