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Johannesburg – Aluminium producer Hulamin [JSE:HLM] said on Friday in a voluntary trading statement that its headline earnings and earnings per share are expected to be between 10 cents and 11 cents for the half-year ended June 2010, from 10 cents per share previously.
Operating profit for the half-year ended June 2010 is expected to be between R97m and R105m, slightly lower than R114m earlier.
The group said that production volumes in Hulamin Rolled Products improved by 32% to 184 000 tonnes (annualised), and the product mix also improved.
"These improvements were offset by the rand strengthening against the US dollar from R9.23 in the first half of 2009 to R7.54 in the current period.
In addition, the Transnet strike in May has delayed the invoicing of approximately 6,000 tons, impacting both profit and working capital. Costs have also increased, mainly energy and employment inflation and project start-up," the group said.
Hulamin expects to release its results on July 26 2010.
- I-Net Bridge
Operating profit for the half-year ended June 2010 is expected to be between R97m and R105m, slightly lower than R114m earlier.
The group said that production volumes in Hulamin Rolled Products improved by 32% to 184 000 tonnes (annualised), and the product mix also improved.
"These improvements were offset by the rand strengthening against the US dollar from R9.23 in the first half of 2009 to R7.54 in the current period.
In addition, the Transnet strike in May has delayed the invoicing of approximately 6,000 tons, impacting both profit and working capital. Costs have also increased, mainly energy and employment inflation and project start-up," the group said.
Hulamin expects to release its results on July 26 2010.
- I-Net Bridge
