Cement News tagged under: Afrimat
Afrimat reports group revenue rise of 44% in six months ending 31 August25 October 2024, Published under Cement NewsAfrimat has released results for the six months ending 31 August 2024. Group CEO, Andries van Heerden, said that group revenue increased by 44.3 per cent from ZAR2.8bn (US$158.2m) to ZAR4.1bn, including the recently acquired Lafarge business. Operating profit (excluding a gain on bargain purchase) decreased by 45.2 per cent from ZAR534.1m to ZAR292.7m. Notwithstanding a good performance from the group's quarries and the Industrial Minerals division, the reduction in operating profit was pr... |
Afrimat Construction Index reports 1.3% YoY decline14 June 2024, Published under Cement NewsAfrimat has released the findings of its Afrimat Construction Index (ACI) for the 1Q24 in South Africa. According to Dr Roelof Botha, the weak economic growth during the first quarter of the year was evident in the construction sector, with eight of the 10 constituent indicators of the ACI recording YoY declines and the ACI growth rate slipping to just below zero. The index recorded a level of 103.7 in the first quarter, compared to 117.3 in the previous quarter, and 105 in the 1Q23. He ... |
Afrimat boosts revenue by 24% in FY23-24 as Lafarge integration continues17 May 2024, Published under Cement NewsAndries Van Heerden, Afrimat's Group CEO, stated that he was exceptionally pleased with the group’s performance for the year ended 29 February 2024, which was supported by a revenue increase of 23.9 per cent from ZAR4.9bn (US$268.9m) to ZAR6.1bn (US$334.8m). Operating profit increased by 19.8 per cent to total ZAR12bn (2023: ZAR961.6m), delivering an operating profit margin for the group of 18.9 per cent. “The diversified position Afrimat has adopted, together with the efficiency proje... |
Competition Tribunal grants approval for Afrimat's acquisition of Lafarge South Africa11 April 2024, Published under Cement NewsAfrimat has notified its shareholders that the Competition Tribunal has granted approval for the Lafarge South Africa ( Holcim ) acquisition. All other regulatory authority approvals have been granted. In a Stock Exchange News Service announcement, the CEO of Afrimat, Andries van Heerden, indicated that this exciting deal forms part of the Afrimat Group's ongoing diversification strategy. “It will increase Afrimat’s offering in the construction materials space, by expanding the group'... |
Afrimat's acquisition of LSA gets Commission approval08 November 2023, Published under Cement NewsSouth Africa’s Competition Commission has approved Afrimat’s acquisition of Lafarge SA , subject to a number of conditions. The deal, which is worth nearly ZAR1bn (US$54.59m), was found to raise a number of competition issues, according to the Commission, and would result in the lessening of competition in the aggregates and ready-mixed concrete sectors, reports Business Day. As a result, the Competition Commission has recommended that the merged entity divests its interests in general aggr... |
Afrimat acquires Lafarge South Africa Holdings22 June 2023, Published under Cement NewsLafarge South Africa Holdings (LSA) is being acquired by South Africa-based mining and materials company, Afrimat, The deal includes all the subsidiaries of the LSA Group, which will become part of Afrimat’s Construction Materials division. LSA Group, a member of the Holcim Group, currently supplies a range of products to the construction industry, including cement, concrete, aggregates and fly ash. The purchase price for the acquisition of the equity in the LSA Group is US$6m, with a... |
Cape Lime business to boost Afrimat's earnings25 September 2017, Published under Cement NewsAggregates and building materials supply company Afrimat, based in Durbanville, Western Cape, South Africa, expects to see higher profit contributions from its Cape Lime business going forward. Afrimat CEO, Andries Van Heerden, said: "We are hedged against economic volatility through wide diversification. The operational contribution is interesting to breakdown," Mr Van Heerden said. "In financial 2016 the clinker segment accounted for 38 per cent of Afrimat’s business, the Glen Dougl... |
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