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Healthy iron ore prices boost Afrimat’s full-year earnings

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The group says the commodity helped offset a tough period for the construction-materials division

Afrimat CEO Andries van Heerden says the economic slowdown has been hard on the company’s construction-materials business. Picture: RUVAN BOSHOFF

Group revenue rose 24.6% to R3bn, while headline earnings per share grew 29.6% to 234.1c, the group said on Thursday. “Healthy international iron ore prices turned the recently acquired Demaneng iron ore mine into a star performer,” the group said.“Our construction-materials segment felt the brunt of the slowdown in economic activity, with the KwaZulu-Natal and Gauteng businesses being impacted the most,” said Afrimat CEO Andries van Heerden.

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