Picture: Ivan Alvarado, Reuters
CAPE TOWN -  Industrial, construction minerals and open pit mining group Afrimat’s share price rose 5.1 percent to R31.41 on Wednesday after it said headline earnings per share were expected to be 80-100 percent more for the period ending August 31, 2019..

Earnings per share were expected to be between 168.5 cents and 187.2 cents per share, versus 93.6 cents in 2018, reflecting an increase of between 80-100 percent on the previous period, it said in a trading statement.

Headline earnings per share were expected to be between 167.6 cents and 186.2 cents per share, versus 93.1 in 2018, reflecting an increase of between 80-100 percent on the previous period.

“Afrimat is pleased with improved results from the Construction Materials segment, the strong growth of the Industrial Minerals businesses and the healthy contribution from the Demaneng iron ore mine,” a statement said. 

A further trading statement providing more accurate parameters would be released towards the end of this month.

BUSINESS REPORT