Aluminium products maker Hulamin said on Friday that it expected headline earnings per share (HEPS) in the year to August to increase more than 20% from the year-earlier period. The small-cap company said the improved operating performance in the third quarter had mitigated the effect of a stronger rand on its expected profits. The construction and automotive industries are the largest consumers of aluminium, with Europe‚ the US and Asia making up the key export markets. The company cautioned that exchange-rate volatility could affect its profits in the fourth quarter. The stock was relatively flat in midmorning trade at R5.20 on the JSE.
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