Hulamin expects to report higher H1 earnings
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.
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