Hulamin HY HEPS slides 17%

Shares of aluminium products manufacturer, Heuleman, experienced a 5% decline following the release of their interim results. Despite this, CEO Mark Gounder remains optimistic about the company's performance amidst challenging market conditions. During a recent interview with CNBC Africa, Gounder highlighted the company's strategic shift towards growing their local market share and focusing on can production as a key driver for future growth. The company reported a 38% drop in basic normalised headline earnings, which adjusts for metal price lag. While Gounder acknowledged the tough first six months of 2024, he emphasized the progress made in comparison to the previous year. He cited sustained profits and investments in projects like the 'Y project' as signs of positive momentum for Heuleman. Gounder also discussed the challenges faced in the car industry and the company's efforts to expand its presence in international markets, particularly in Europe and the US. He expressed optimism about the company's ability to navigate market dynamics and capitalize on growth opportunities. Additionally, Gounder addressed shareholder activism and engagement with Volker Schutter Group, a major shareholder with a 7% stake in Heuleman. He emphasized the company's commitment to open dialogue and continuous improvement, reaffirming their focus on sustainable growth and shareholder value. As Heuleman continues to navigate market challenges and drive strategic initiatives, stakeholders will be watching closely to see how the company positions itself for future success.