Afrimat earnings plunge 85-90% amid market headwinds
Afrimat Limited [JSE:AFT] expects its EPS and HEPS to decrease by 85% to 90% compared to the previous year, attributing the downturn to several factors including shifts in the iron ore market, volume reductions from ArcelorMittal South Africa (AMSA), and challenges in its cement and anthracite operations. EPS is projected to be between ZAR0.52 and ZAR0.781, while HEPS is expected to range between ZAR0.567 and ZAR0.851. Despite these headwinds, the company highlights the successful integration of Lafarge South Africa, improved performance in the Construction Materials segment, and a recovery in the Industrial Minerals business. Afrimat remains focused on long-term sustainability and is actively engaged with AMSA to explore innovative raw material solutions. The company anticipates that with strategic changes and an expanded Environmental Impact Assessment in place, it is on course for improved financial results in the coming year.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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