Stephen Meintjes, Head of Research at Momentum Securities says that his top stock picks amid the Covid-19 crisis is Naspers and Prosus, exception stocks such as Afrimat and Raubex and the Telco’s sector big players Vodacom and MTN as there was an increase in demand for online and data consumption during lockdown.
Afrimat’s annual operating profit surged 27.5 per cent to R471.2 million, boosted by strong demand from its iron ore operations. However, the construction and mining group withheld its final dividend to use the cash to cement its balance sheet from Covid-19. Afrimat CEO, Andries Van Heerden joins CNBC Africa to review the numbers.
Buildings material company, Afrimat says its diversification plans helped weather the tough economic conditions with its interim revenue rising 19 per cent to R1.7 billion. The company raised its dividend to 36 cents from 19 cents previously. Afrimat CEO, Andries van Heerden joins CNBC Africa for more.
Afrimat’s financial results for the year ended 28 February reveal increases in shareholder return with headline earnings per share up almost 30 per cent to 234 cents, the minerals miner also declared a dividend of 62 cents per share. Afrimat improved its debt to equity ratio by more than 11 per cent. Joining CNBC Africa to unpack these results is Andries van Heerden, CEO of Afrimat.
A small time South African mining company that provides minerals and construction materials to the industry has taken on a huge feat that could boost massive growth in the industry and for the company. Afrimat has emerged as being the first runner up to buy Australian-listed Company Universal Coal. Afrimat CEO Andries van Heerden joins CNBC Africa for more.
Economist Botha: Cost of capital in SA up by 80% since Gill Marcus left the Reserve Bank, here’s why
These were among the starling findings mentioned by renowned economist Dr Roelof Botha discussing the Afrimat Construction Index for the third quarter of 2018 with CNBC Africa’s Godfrey Mutizwa.
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