Afrimat says all three of its segments experienced strong growth in the six months to August compared to the same period a year ago
Afrimat shares rose as much as 4% to R50.50 on Thursday morning, the most in three weeks, after the building materials and mining group reported a 60.5% rise in first-half headline profit, benefiting from a surge in iron-ore prices in particular.
Headline earnings per share, the main profit measure in SA that excludes exceptional items, rose to R2.95. Industrial minerals businesses, which include limestone, dolomite and industrial sand, returned to pre-Covid-19 volumes across all regions in SA, delivering an increase in operating profit of R51.1m, which was double the amount of the year-ago period.
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