Afrimat posts strong FY17 results

Local industrial minerals and construction materials company Afrimat on Thursday reported a 25.4% increase in headline earnings a share to 196.4c for the year ended February 28, resulting from a strong performance by its mineral producing operations. The group also achieved an increase in its operating margin, from 16.3% to 18.2%, while its cash generated from operations improved from R320-million to R406-million.