Afrimat‚ which supplies industrial minerals and construction materials‚ on Thursday reported a 25.3% rise in headline earnings per share (HEPS) to 95.2c in the six months to August from the year-earlier period.

The company said it its results statement on Thursday that the double-digit growth in HEPS was due to strong performance in its mineral producing operations.

The company consists of a mining and aggregates division‚ which houses the recently acquired Glen Douglas and the Clinker Group‚ and a concrete-based products unit.

“This pleasing performance was further supported by improved efficiencies‚ cost reduction and the disposal of marginal businesses‚” CE Andries van Heerden said in a statement.

Revenue was up 15% to R1.2bn from the year-earlier period and net profit lifted 27% to R139.3m.

The small-cap company has endeared itself to investors‚ with the share price spiking from lows of about R3 in 2010 to R27 currently‚ which values the company at about R4bn.

source: BDpro