June 26, 2020 / 5:33 AM / 11 days ago

BRIEF-Hulamin Ltd Says FY Group Sales Volumes Decreased By 11%

June 26 (Reuters) - Hulamin Ltd:

* HULAMIN LTD - TURNAROUND ACTIONS COMPLETED

* HULAMIN LTD - FY HEADLINE EARNINGS DOWN 182% TO A LOSS OF R240 MILLION IMPACTED BY RESTRUCTURING COSTS, A NEGATIVE

* HULAMIN LTD - OUTBREAK OF COVID-19 PANDEMIC IN LATE 2019 AND EARLY 2020 HAS HAD A SERIOUS IMPACT ON ALL HULAMIN’S MARKETS

* HULAMIN LTD - NO DIVIDEND WAS DECLARED IN RESPECT OF 2019 YEAR

* HULAMIN LTD - FY GROUP SALES VOLUMES DECREASED BY 11% TO 219 000 TONS

* HULAMIN LTD - IMPAIRMENT CHARGE OF R1.3 BILLION ACROSS BOTH HULAMIN ROLLED PRODUCTS AND EXTRUSIONS

* HULAMIN LTD - COVID-19 PANDEMIC LIKELY TO REDUCE SALES VOLUMES CONSIDERABLY AND COUNTERACT BENEFITS OF COST SAVING ACTIONED IN 2019

* HULAMIN LTD - EXPERIENCED PARTICULARLY DIFFICULT CONDITIONS DURING 2019

* HULAMIN LTD - OUTBREAK OF COVID-19 PANDEMIC IN LATE 2019 AND EARLY 2020 HAS HAD A SERIOUS IMPACT ON ALL HULAMIN’S MARKETS Source text for Eikon: Further company coverage:

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