Aluminum supplier Hulamin has announced a considerable return on earnings in 2021. These good results are supported by the ever-increasing demand for beverage cans, driven in part by environmental awareness and local glass shortages.
The group, valued at R1.4 billion, expects to generate a profit of around R606 million for the full year, compared with a loss of R239 million in the previous year. These promising figures are reinforced by Hulamin’s healthy order backlog forecast for the whole of 2022.
Profits at the Pietermaritzburg-based aluminum giant, which specializes in rolled aluminum products, soared by 760% for the period ending December 2021.
Hulamin, which exports most of its aluminum products to countries such as the U.S., has also grown its domestic market, with the company’s domestic sales increasing by a significant 65%. The multinational is one of South Africa’s leading manufacturing companies, is listed on the Johannesburg Stock Exchange and has carved a niche for itself in the global market for aluminum rolled products.
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