Afrimat predicts headline earnings to fall by 20%

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Afrimat, a Johannesburg Stock Exchange (JSE)-listed black empowered open-pit mining group that supplies industrial minerals and construction materials is publishing a voluntary business update for the year ending 28 February 2018.

At this time a reasonable degree of certainty exists, however a clear and specific percentage or
range has not yet been determined.

It is expected that headline earnings per Share could be down by a maximum of 20%.

“In my concluding remarks in November 2017 I indicated that Afrimat continues to be well positioned to capitalise on its strategic initiatives, such as the continued growth from the diversified asset base but that the business environment would continue to pose challenges. I stated that our unique product range and entrepreneurial management team, who are renowned for efficient execution, positioned Afrimat to navigate the challenging environment. I still believe this to be true and this belief is strengthened by the current positive performance of our iron ore mine and the effect on the rest of our business given the current positive sentiment in South Africa,” says Andries van Heerden, Afrimat Chief Executive Officer.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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