Afrimat results affirm focus on infrastructure spend
JSE-listed Afrimat Limited delivered a reasonable performance for the year to February 2009 in light of the global economic downturn, supported by a good showing from two divisions – Readymix Concrete and Concrete Manufactured Products (“CMP”) – which helped boost revenue by 12,3% to R687,1 million. In line with strategy to intensify focus on government […]
Afrimat expands for growth during interim period
During the six months to August 2008 construction materials supplier Afrimat Limited increased exposure to government’s multi-billion Rand infrastructure spend with organic expansion initiatives and a strategic acquisition of a further quarry and readymix plant in KwaZulu-Natal. The group’s growth projects included commissioning new quarries and plants as well as extending its footprint nationally. CEO […]
Afrimat secures R90 million contract at Medupi Power Station & entrenches lead in KZN
Capitalising on escalating demand in the country for coal, JSE construction materials supplier Afrimat has secured the R90 million contract to supply coarse and fine aggregate for phase 1 of the Medupi coal-fired power station in Lephalale, Limpopo. The contract will take the group into new regional territory. At the same time Afrimat has extended […]
Afrimat deal with Mvelephanda boosts BEE over 25,1%
JSE Main Board construction materials supplier, Afrimat Limited, today introduced a consortium (“the consortium”) led by Mvelaphanda Holdings (Pty) Limited (“Mvela”) as the group’s new BEE partner. The deal currently gives the consortium options to purchase up to 27,8 million shares in aggregate over the next three years, taking Afrimat’s BEE shareholding beyond the 26% […]
Afrimat continues to deliver strong growth
Robust infrastructure investment continues to drive organic growth at black empowered construction materials supplier Afrimat Limited, resulting in headline earnings up by 79,5% to R92,5 million for the year to February 2008. The group’s strong results extend to all key performance indicators in line with the trading update released in early May 2008. Two earnings-enhancing […]
Afrimat featured in Financial Mail corporate report
It’s just been over a year since Afrimat, a supplier of building and construction materials throughout southern Africa, listed on the JSE. The success of the listing marked a pinnacle in the company’s history — built on humble beginnings, the company has now entrenched itself as a leader and pioneer in the industry. Download the […]
Afrimat more than doubles earnings
JSE black empowered construction materials supply group Afrimat, has more than doubled headline earnings from this time last year to R47,6 million for the six months to August 2007. The interim period saw the group conclude two earnings-enhancing acquisitions – of Malans Quarries and Scottburgh Quarries – bolstering Afrimat’s long-standing presence in the Western and […]
Afrimat boosts access to urban construction sector with KZN acquisition
In a move to further entrench its strong foothold in metropolitan areas, black empowered building supplies group Afrimat Limited has purchased two quarries and a concrete block and brick factory in KwaZulu-Natal in its second acquisition since listing. The strategically located quarries will boost Afrimat’s total quarry portfolio to 22 and block and brick factories […]
Strong maiden year for Afrimat sees profit beat forecast
Black empowered building supplies group Afrimat Limited has posted maiden profit after tax for the year to February 2007 of R67,6 million, beating pre-listing forecasts by 6,3% on a year-on-year basis. Afrimat debuted on the JSE in November last year following the merger of its two key underlying operations – well-established industry leaders Lancaster Group […]
Afrimat boosts Cape presence with R125 million acquisition of Malans quarries
In its first acquisition since a record debut on the JSE in November 2006, black empowered building supplies group Afrimat Limited has acquired the Malans Group (“Malans”) in the Cape for R125 million. The earnings-enhancing acquisition adds strategically located quarries and sand mines to Afrimat’s portfolio, further boosting the group’s entrenched 45 year presence in […]