Hulamin upbeat over healthy order book, but scraps dividend as metal prices rocket
While strong demand for beverage cans and rising prices helped the group return to profit in 2021, it is concerned about volatility in input prices
28 March 2022 - 08:20
UPDATED 28 March 2022 - 14:42
Aluminium group Hulamin says a full order book and a more than tripling of its profits in 2021 have given it reasons for optimism, but it has decided to hold onto its dividend for 2021 due to the threat posed by surging commodity prices on its cash flows.
Russia’s war with Ukraine has prompted a crisis in energy markets and surging metal prices, CEO Richard Jacob told Business Day, providing reasons for caution, even though no physical disruption to the flow of inputs or products is expected...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.