Industrial and metals mining company, Hulamin, with a current market cap of R2.59bn, and a PE ratio of 14.21 is has advised its shareholders that it expects significant increases in its earnings ahead of its results, to be released at the end of the month.
Hulamin has announced that normalised earnings per share are likely to be approximately 40% higher than in the corresponding reporting period of the previous year whilst headline earnings per share and basic earnings per share are likely to be approximately 95% higher.
The significantly larger increase in headline and basic earnings per share is due to the distortion caused by the accrual of severance costs at June 2013.These severance costs were excluded from the determination of normalised earnings at June 2013.
