Hulamin: Sales volume increased to 103,300 tons, revenue up by 45%

Hulamin says in its interim results for the period ended 30 June 2022 that the year 2022 began with solid demand, firmer prices than in recent years and a weaker Rand/Dollar exchange rate.

Its turnover increased by 45% and profits increased by 144% despite the constraints experienced at the Durban port; the impact on the automotive market due to the KZN floods and the challenges posed on working capital by the record high LME Aluminium prices experienced in H1 of 2022.

Hulamin Rolled Products turnover increased by 47% and Hulamin Extrusions turnover by 13% compared with the comparable period.

RESULTS HEADLINES

• Group sales volume increased to 103 300 tons from 102 400 for the six months ended 30 June 2022
• Revenue increased by 45% to R7.9 billion
• Operating profit improved by 144% to R223 million
• Basic earnings per share increased by 42% to 47 cents per share
• Headline earnings per share increased by 147% to 47 cents per share
• Normalised headline earnings per share increased by 820% to 36 cents per share