Aggregates and construction material supplier Afrimat on Monday reported a 24.4% increase in first-half headline earnings per share.
The company declared an interim dividend of 16c per share‚ up from 13c in the year-earlier period.
Afrimat‚ which is working on a diversification and cost reduction strategy‚ has entered into an agreement to acquire lime and associated products producer Cape Lime.
Subsidiary Infrasors was affected “by the temporary closure of Highveld Steel but various new initiatives were launched to recover the resultant lost sales”.
“The group is well positioned to capitalise on its strategic initiatives‚ which include continued growth from an excellent asset base‚ selective acquisitions and greenfield expansion projects‚” it said.