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Masonite sees earnings 65%-75% higher

22 Sep 2011

Masonite (Africa) (MAS) said on Tuesday (20 September 2011) that it expects earnings per share and headline earnings per share to be 65% to 75% higher for the period ended June, than 220 cents, and 221 cents respectively in 2010.

"This increase was mainly attributable to an improved product mix, the success of a robust cost reduction programme and the positive impact of timber prices on the fair value of biological assets," the group said.

Masonite manufactures woodfibre board products, mineral fibre ceiling tiles, woodgrain door panels and decorative wall panelling.

It further advised shareholders that its profit from operations, excluding the adjustment in fair value of biological assets, for the period ended 30 June was expected to be 30% to 40% higher than that of the comparative period in 2010.

Masonite said it expected to publish its results towards the end of September.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

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