Hulamin’s share price leaps 25% after it advised shareholders to exercise caution on company’s securities
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THE share price of Hulamin, South Africa’s manufacturer of specialised rolled aluminium products, leapt to a high of 25 percent in morning trade yesterday after it issued a cautionary, saying that it had entered into talks.
The share soared to a high of R3.99 after closing at R3.19 on Wednesday.
“Shareholders are advised that the company has entered into discussions which, if successfully concluded, may have a material effect on the price of the company’s securities,” it said.
Accordingly, shareholders were advised to exercise caution when dealing in the company’s securities.
Hulamin, in the six months ended June, improved its profit performance and generated free cash flows despite the ongoing Covid-19 disruption.
Earnings before interest, taxes, depreciation and amortisation improved by 166 percent in the reporting period to R78.6 million, while basic earnings a share increased by 139 percent to 29 cents. Basic headline earnings per share leapt 121 percent to 15c.
BUSINESS REPORT ONLINE