Afarak Group SE (DI) (AFRK)

Sector:

Mining

 20.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 20.00
  • 52 Week Low: 20.00
  • Currency: UK Pounds
  • Shares Issued: 265.17m
  • Volume: 0
  • Market Cap: £53.03m

Afarak Group shares slides as profit guidance raised

By Victoria Young

Date: Friday 14 Aug 2015

LONDON (ShareCast) - (ShareCast News) - Shares in Afarak Group rose after the steel company said its full year profits would be "significantly" higher in 2015.
The Finland-based metals firm's share price fell by 16.92% to 27p at 1135 BST, after the announcement. In its last update in May, Afarak had said full year profit would be "improved" from the year before.

The company posted second quarter profit up to €5.7 from €1.2m, off revenues up by 12.2% to €53.1m from €47.3m.

Earnings per share for the quarter were up to €0.02 from €0.01.

The global growth in stainless steel production is expected to lead an increase in demand for chrome products in 2015, Afarak said.

"However, as occurred in 2014 where the chrome industry has not been able to increase chrome product prices it is unclear whether this upswing in prices will occur in 2015," the company said.

Shore Capital said in a note the upgrade was due to the weakening of the rand relative to the dollar, but also to improved FerroAlloys sales and the reopening of its South African Mecklenburg mine late last year.

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AFRK Market Data

Currency UK Pounds
Share Price 20.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 20.00
52 Week Low 20.00
Volume 0
Shares Issued 265.17m
Market Cap £53.03m

AFRK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
39.01% above the sector average39.01% above the sector average39.01% above the sector average39.01% above the sector average39.01% above the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
47.54% above the sector average47.54% above the sector average47.54% above the sector average47.54% above the sector average47.54% above the sector average

AFRK Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

AFRK Key Personnel

Chair Thorstein Abrahamsen
CEO Guy Konsbruck

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