AFRIMAT EXPECTS TO HIKE INTERIM HEADLINE EARNINGS PER SHARE
AFRIMAT, the construction materials and industrial minerals group, said yesterday that headline earnings per share were expected to be between 290.6 cents and 299.8c for the six months to August 31, representing an increase of 58 to 63 percent over the same period in 2020. Earnings per share (EPS) was expected to be between 287.6c and 296.9c, representing an increase of between 56 to 61 percent higher compared to EPS of 184.4c reported for the six-months to August 31, 2020, the group said in a trading statement. All three of its segments, namely construction materials, industrial minerals and bulk commodities experienced strong growth compared to the previous corresponding period, on the back of the hard-lockdown levels imposed to limit the spread of Covid-19 in the previous period. The bulk commodities segment also benefited from favourable iron ore pricing and the new projects, Jenkins Iron Ore Mine and Nkomati Anthracite Mine, which started to contribute positively to the results. The financial results are expected to be released on or about November 4. Afrimat’s share price gained 4.34 percent to close at R49.30 on the JSE yesterday.
|
TELECOMMUNICATIONS infrastructure IHS Towers has begun the marketing of its initial public offering (IPO) of 22 500 000 ordinary shares, MTN advised yesterday. It said 18 000 000 of the shares were being offered by IHS Towers, and
4 500 000 were being offered by certain selling shareholders, including MTN. The underwriters of the offering would have a 30-day option to buy up to an additional 3 375 000 ordinary shares, consisting of up to 2 700 000 ordinary shares from IHS Towers and up to 675 000 from the selling shareholders at the IPO price, less the underwriting discount. The IPO price range, as disclosed in the preliminary prospectus, was between $21 (R312) and $24 a share. IHS Towers had been approved to list its ordinary shares on the New York Stock Exchange under the ticker symbol “IHS”. |
RECOGNISED as an architect of the global tourism industry and philanthropist, South African-born Stanley Tollman has died at the age of 91 following a battle with cancer, a statement said yesterday. Stanley Tollman, born in Paternoster in the Western Cape, was chairperson of The Travel Corporation (TTC), which has more than 10 000 employees in 70 countries worldwide. TTC houses brands such as Trafalgar, Contiki, Uniworld and Red Carnation. The group is one of the most successful family-owned and -run travel businesses in the world – pre-pandemic Tollman’s travel businesses carried more than 2 million travellers. Tollman provided South Africa with its first five-star hotels and just prior to leaving South Africa in 1975 he adopted a policy of allowing black guests and performers into his luxury hotels despite the ruling government of the time’s efforts to consolidate the prohibition of such activities under apartheid. He returned to the country once apartheid was abolished and purchased some iconic hotels and landmarks such as The Oyster Box, 12 Apostles Hotel, Bushmans Kloof Wilderness Reserve, and the Bouchard Finlayson. |