Afrimat flags hit to earnings and effect of Transnet strike
Interim headline earnings are expected to drop by as much as 20% due to lower iron ore prices and higher input costs
13 October 2022 - 14:17
Afrimat says interim earnings are expected to decline by as much as 20% due to lower iron ore prices and higher production costs, and warned that the strike at Transnet would affect the export and inland logistics for its iron ore mines.
Headline earnings per share — a measure of profit that strips out impairments and one-off items — are forecast at 236.1c-265.6c for the six months to end-August, a decline of 10%-19.8% year on year, the miner of industrial minerals, bulk commodities and construction materials said in a trading statement on Thursday...
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.