Infrasors expects operational improvement

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Johannesburg - Basic building materials firm Infrasors said yesterday the contribution from operations for the year to February was expected to improve to R15.1 million from a restated loss from operations of R27.9m the previous year.

This would translate into headline earnings a share increasing to 6c in the year to February from the restated headline loss a share of 64.2c the previous year.

Basic earnings a share were expected to increase to 2.8c from the restated loss of R1.661.

It expected to release its annual financial results on May 9.

Listed open pit mining and industrial minerals group Afrimat acquired a 50.7 percent majority shareholding in Infrasors effective from March 1, 2013 and made two offers to minorities at 35c and 65c last year.

Last October, Afrimat increased its stake to 59.78 percent.

Infrasors shares jumped 14.29 percent to close at R1.20 yesterday.

Afrimat shares rose 2.62 percent to close at R14.90. – Roy Cokayne

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