HULAMIN LIMITED - Trading Statement and Business Review for the Half Year Ended 30 June 2026

What this filing means

The headline EPS swing looks dramatic — Hulamin moved from an 8c loss to an expected 75–77c per share — but the market had begun pricing a recovery narrative (CAR-20 +7.8%, near 52-week lows), so the headline largely confirms what the price already told. The more honest signal sits inside the numbers: normalised HEPS for continuing operations collapsed 58–65% to 9–11c from 26c, dragged by a stronger rand and lower volumes, with cost savings only a partial offset. The headline removes the loss;…