BRIEF-Hulamin FY HEPS Of 91 Cents

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BRIEF-Hulamin FY HEPS Of 91 Cents
Credit: © Reuters.

March 19 (Reuters) - Hulamin Ltd HLMJ.J :

* SUMMARISED PROVISIONAL CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018 AND CASH DIVIDEND

* FY DIVIDEND INCREASED 20% TO 18 CENTS PER SHARE

* FY HEADLINE EARNINGS PER SHARE (HEPS) OF 91 CENTS COMPARED TO 95 CENTS IN 2017

* FY TURNOVER INCREASED TO R11.5 BILLION (2017: R10.3 BILLION)

* IN 2019, HULAMIN WILL COMMENCE OPERATING AN AGENCY AND TECHNICAL SERVICE TRADING BUSINESS

* IN 2019, HULAMIN WILL COMMENCE RESELLING A MAJOR ALUMINIUM ROLLING MILL'S CAN STOCK PRODUCTS TO HULAMIN CUSTOMERS

* IN ADDITION TO INCREASED DIVIDEND, BOARD HAS APPROVED A SHARE BUY-BACK PROGRAMME OF R60 MILLION

* NEW AGENCY AND TECHNICAL SERVICE TRADING BUSINESS OPERATION IS EXPECTED TO HAVE A POSITIVE IMPACT ON PROFITABILITY AND CASH FLOWS

* TRADE RELATIONS BETWEEN USA AND CHINA REMAIN UNCERTAIN

* INCREASED EFFORTS IN EUROPE, AUSTRALASIA, AFRICA, SOUTH AMERICA TO MINIMISE EFFECTS OF TRADE TENSION, SLOW-DOWN IN US MANUFACTURING

* EXPERIENCING SYMPTOMS OF A CYCLICAL SLOW-DOWN IN US FOR FLAT ROLLED ALUMINIUM IN PARTICULAR

* PERFORMANCE OF HULAMIN EXTRUSIONS REMAINED UNACCEPTABLE IN EXTREMELY CHALLENGING TRADING CONDITIONS

* GROUP HAS COMMENCED A STRATEGIC REVIEW OF ITS INVESTMENT PORTFOLIO, INCLUDING ITS INTEREST IN HULAMIN EXTRUSIONS

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