Afrimat forecasts significant earnings growth for half-year

Afrimat Limited expects earnings per share (EPS) for the six-month period ended August 31, 2025, to range between 101.4 cents and 104.3 cents. This represents a significant increase of 74% to 79% compared to the restated EPS of 58.3 cents for the previous corresponding period. Headline earnings per share (HEPS) are projected to be between 100.7 cents and 103.4 cents, a 90% to 95% increase from the 53.0 cents reported for the period ended August 31, 2024.

The improved earnings are attributed to performance enhancements across several key areas of the group. The Construction Materials segment saw improved sales volumes from acquired Lafarge quarries and solid growth in the fly ash business. However, the cement business is expected to be loss-making for the first half, despite plant reliability improvements.

Bulk Commodities experienced a significant increase in local iron ore sales, reaching 830,662 tons (compared to 339,648 tons in 2024). International iron ore exports rose to 396,384 tons (from 349,084 tons in 2024). The Nkomati Anthracite Mine processed 100,000 tons in July 2025, but total volumes decreased due to reduced demand from ferrochrome smelters. The company also announced the appointment of Mr P Joubert to the Social, Ethics and Sustainability Committee and Mr J Breytenbach to the Audit and Risk Committee, effective immediately.