Hulamin Limited Announces Sales Results for the Six Months Ended June 30, 2017; Provides Earnings Guidance for the Six Months Ended June 30, 2017
The company provided earnings guidance for the six months ended June 30, 2017. For the six months, the company operating profit in the first half of 2017 has exceeded that of the comparative period, despite the significant strengthening of the Rand. The conversion margins of it's rolled products business are largely foreign denominated and the strengthening of the currency has had a dampening effect on profitability. The company expects EPS to be range of 54 cents to 58 cents, HEPS to be range of 54 cents to 58 cents and normalised EPS to be range of 54 cents to 58 cents.