Johannesburg - Afrimat [JSE:AFT]
advised on Wednesday that its earnings per share and headline earnings per share (Heps) for the six months ended August 2012 are expected to rise by between 7% and 12% and 15% and 20% respectively‚ compared to the comparative period in the previous year.
Heps was impacted by the dilution as a result of Treasury shares utilised as part settlement for the Clinker Group acquisition‚ it said.
All business units are expected to report increased profits compared to the comparative period‚ despite tough trading conditions.
The group benefited during the period from its diversification initiatives‚ improvement in the profitability of the Readymix business unit due to higher sales volumes in the Western Cape and cost reduction initiatives and profits generated by the newly-acquired Clinker Group.
Its results will be released on or about November 1.