Mazor: Headline earnings to rise two-thirds

Mazor expected its headline earnings a share to be between 64 percent and 71 percent higher in the year to February than in the previous year, the listed construction materials group said yesterday. It said its headline earnings a share for this period were expected to be between 23.5c and 24.5c compared with 14.3c in the previous year. Earnings a share in the same period were expected to be between 2.8 percent and 5.9 percent higher, or between 26c and 26.8c compared with 25.3c previously. Earnings a share in the prior comparative period included a fair value adjustment of R9.8 million and a gain on bargain purchase of R3m, arising on the acquisition of the remaining 50 percent of Hulamin Building Systems. It said trading conditions over the year had improved, with significant revenue growth in the aluminium division and improved margins in the aluminium and steel operating divisions relative to the year before. Mazor expects to publish its annual results on May 14. Shares fell 4.17 percent to close at R2.30 yesterday. – Roy Cokayne