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.

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