https://newsletter.en.creamermedia.com
Aluminium|Financial|Hulamin|Lifting|Transnet|Equipment|Maintenance|Products|Operations
Aluminium|Financial|Hulamin|Lifting|Transnet|Equipment|Maintenance|Products|Operations
aluminium|financial|hulamin|lifting|transnet|equipment|maintenance|products|operations

Hulamin full-year loss to narrow despite first-half challenges, July unrest

14th December 2021

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

Aluminium semi-fabricator and supplier Hulamin reports that, despite a subdued start to the year, its headline loss a share is expected to narrow to 54c, compared with the headline loss a share of 68c reported for the 2020 financial year.

Its loss a share is expected to narrow to 60c, from 75c in 2020, while its normalised loss a share is expected to narrow to 72c, from 91c in 2020.

Hulamin reports that, following the lifting of restrictions in the first quarter, and the need to implement plant upgrades and execute biennial equipment maintenance, the company gave the go-ahead for a 12-day maintenance shutdown of its plant, that was successfully completed in late-March.

The subsequent improvements laid the foundation for further operational performance

enhancements that have continued through to the fourth quarter, Hulamin says in a statement.

Hulamin achieved sales volumes of 102 000 t in the first half of the year, and expects the second-half volumes to exceed those. This is despite the widespread public unrest resulting in a six-day plant closure in July and the subsequent Transnet cyber-attack that disrupted Durban port operations for about seven days in July.

The company reports that both major operating divisions – Hulamin Rolled Products and Hulamin Extrusions – have performed well this year, with Hulamin Rolled Products benefitting from firm demand in most markets, stable and improving plant performance, a rising London Metal Exchange aluminium price and a weaker currency in the second half of the year.

Earnings in both divisions are expected to be supported by metal price lag profits.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.102 0.217s - 204pq - 2rq
Subscribe Now