Building and construction materials group Sephaku Holdings expects to report higher first-half earnings thanks to a better performance from Dangote Cement SA.
Headline earnings per share for the six months to end- September are expected to be 72%-87% higher at 13c-14.1c, the group said in a statement on Friday.
Basic earnings per share were expected to be 69%-85% higher than a year ago.
Sephaku said the first-half performance improved for Dangote Cement SA, but was flat for Métier Mixed Concrete’s operations.
Métier and Sephaku Cement demonstrated resilience and agility in maintaining market share, it said.
The group said deteriorating economic conditions and persistent challenges in the construction sector affected Métier’s sales volumes. But it still managed to retain earnings before interest, tax, depreciation and amortisation at levels achieved in the previous comparable financial period.
Sephaku’s first-half results incorporate six-month results for Sephaku Cement for the period to end-June.
The company’s share price closed down 0.5% at 201c on Friday. It expects to release its results on November 8.
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