Afrimat expects to grow profits amid high iron ore prices and construction recovery
The group expects headline earnings per share to end-August to rise as much as 5%
Open-pit mining and construction materials group Afrimat says it expects a rise in profits for its six-months to end-August, amid a recovery in demand for materials after Covid-19, as well as high iron ore prices.
Headline earnings per share in the six months to end-August is expected to rise between 0% and 5% from the prior period’s 181.9c, while profit before interest and tax is expected to rise between 10% and 15%. Afrimat reported profit before tax of R300m in the prior comparative period.