Can demand boosts Hulamin, but Ukraine war could disrupt supplies 🔒
Aluminium supplier Hulamin says robust demand for beverage cans and higher prices helped its profits to more than triple in its 2021 year, but the group has opted to hold onto its dividend, and is concerned about the potential disruptive effects of the war in Ukraine.
Headline earnings improved to R560m in its year to end-December from a R220m loss in the prior year, with group sales volumes growing more than a third to 220,000 tonnes. Hulamin benefited from growing beverage can demand amid a glass shortage in SA, which accounts for almost half of its revenue, and a global trend towards avoiding single-use plastic containers...
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