"Earlier uncertainties surrounding changes in customers' delivery requirements and possible port delays were resolved and sales volumes late in the period were relatively strong," the group said.
The group's earnings per share and headline earnings per share for the period were forecast to be between 18.31c and 19.17c, compared with 4.30c in the six months to June last year. Delta EMD's chief executive Praveen Baijnath said market demand had been weak in the period, which hurt the results.
"There were soft market conditions. We also did not meet our sales targets. The lower than budgeted sales volumes were offset by an improved sales mix and by higher average selling prices," he said.
There were some operational inefficiencies caused by limited production volumes but the group capitalised on its foreign exchange gains.
Delta EMD's product range covers the entire spectrum of EMD for high-grade optimum performance, including lithium grade, and extends to low-grade slow-discharge alkaline batteries.
The company has manufacturing facilities in the Northern Cape and Mpumalanga.
Source: Business Day via I-Net Bridge
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