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Environment|Export|Financial|Hulamin
Environment|Export|Financial|Hulamin
environment|export|financial|hulamin

Hulamin expects to report higher H1 earnings

11th July 2016

By: Anine Kilian

Contributing Editor Online

  

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Despite a tough trading environment in the local market, which has been impacted by depressed economic conditions and competition from imports, and a slow first quarter in both domestic and export markets, JSE-listed Hulamin expects to report headline earnings per share (HEPS) of between 46c and 50c for the six months to June 30.

This represented an increase of 84% to 100% on the HEPS of 25c reported in the first half of the prior financial year.

Earnings per share (EPS) for the six months were expected to increase by between 92% and 108% to between 46c and 50c, compared with EPS of 24c in the prior comparable period.

In a trading statement released on Monday, Hulamin said sales volumes had improved considerably during the six months under review.

The improved volumes and a significantly weaker rand assisted the company to remain cost competitive in the face of lower international selling prices, which had prevailed since the fourth quarter of 2015.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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