AFRIMAT’S INTERIM EARNINGS TO INCREASE

African construction materials and industrial
minerals supplier Afrimat expects its earnings per share (EPS) for the six
months to August 31 to increase by between 80% and 100% to between 168.5c and
187.2c, compared with the EPS of 93.6c reported for the six months to August
31, 2018.

Headline earnings per share (HEPS) are also
expected to increase by between 80% and 100% to between 167.6c and 186.2c,
compared with the HEPS of 93.1c reported for the prior comparable period.

Afrimat on Wednesday said it was pleased with the
improved results from its Construction Materials segment, the strong growth of
its Industrial Minerals businesses and the healthy contribution from the
Demaneng iron-ore mine, in the Northern Cape.

Afrimat CEO Andries van Heerden commented in a separate release published
on Wednesday that the company’s diversification into iron-ore had helped to
support its growth trajectory and cash position.

The company’s interim financial results will be released on or about October 31. http:// https://www.engineeringnews.co.za/article/afrimats-interim-earnings-to-increase-2019-09-18