Brikor anticipates more than 100% improvement in full-year earnings
AltX-listed construction materials provider Brikor expects to post earnings a share of between 0.9c and 1.1c for the financial year ended February 29, compared with a loss a share of 0.7c in the 2023 financial year.
This equates to a more than 100% year-on-year increase in earnings a share.
In turn, headline earnings a share are likely to be between 1.2c and 1.4c in the reporting year, compared with a headline loss a share of 0.1c in the prior year.
Brikor will publish its full-year results before the end of May.
Brikor’s 40%-owned associate, Zingaro Holdings, reported a profit of R13.1-million in the six months ended August 31, 2023, compared with a loss of R1.7-million in the first half of the prior year, which contributed R7.2-million to Brikor’s profits in the period.
The company’s bricks segment reported an operating profit before interest and taxes of R17.1-million, while its coal segment realised R9.8-million in profit, in the first half of the year.
Brikor supplies building and construction materials to the low-cost housing, residential, commercial and industrial markets of South Africa.
The company’s share price on the JSE rose by more than 30% on the news of an expected turnaround in earnings.
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