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Afarak Group PLC Ord NPV DI (AFRK)

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07-Aug-2019 03:04 PM

Afarak warns of second-quarter loss amid smelter woes in South Africa

Afarak Group warned that it expected to post a loss in the second quarter amid a poor operational performance at its Mogale smelter in South Africa. In June, the company had already said that an irregular supply of electricity and associated high costs h
17-May-2019 01:44 PM

Afarak losses deepen amid lower production, prices

Specialty alloy producer Afarak Group said its first-quarter losses deepened amid weaker ferrochrome prices and lower sales volumes. Losses for the three months through March amounted to €7.5m, compared to losses of €1.9m on-year. Revenue fell
16-Nov-2018 02:14 PM

Afarak reports third-quarter loss as ferrochrome price sinks

Ferrochrome producer Afarak booked a third-quarter loss as technical disruptions hit production amid falling prices for the steel ingredient. Pre-tax losses for the three months through September amounted to €2.8m, compared to a €3.9m loss on-y
10-Aug-2018 09:43 AM

Afarak swings to first-half loss as disruptions in South Africa hurts performance

Alloy producer Afarak swung to loss in the first half of the year as falling ferrochrome prices and disruptions in South Africa weighed on performance. For the six months to 30 June, the company reported a loss of €4.6m compared with a profit of &e
23-Feb-2018 09:05 AM

Afrak swings to profit, falling chrome benchmark prices to weigh on profits in 2018

Afrak reported revenue increased by 29.5% to EUR198.8m in 2017 compared to EUR153.6m in the prior year, supported by both higher production and sales volumes as well as prices. EBIDTA more than tripped to EUR18m in 2017 from EUR5.5m and the EBITDA margi
03-Jan-2018 08:17 AM

Afarak sets out financial reporting calendar

Afarak Group has set out its financial reporting calendar for 2018. The group will report its full year 2017 results on 23 Feb and publish its annual report in the week beginning 26 Mar. Reports for the three months to the end of March; the six months t
17-Nov-2017 07:09 AM

Afarak revenues rise

Afarak's third quarter revenues rose to €44.2m - up from €28.9m a year ago - but losses before interest, tax, depreciation and amortisation narrowed to €2.2m from €2.8m. Revenues for the first nine months rose to €148.2m fro
27-Sep-2017 07:33 AM

Afarak to acquire SA chrome mine

Afarak Group, through its South African subsidiary Afarak Mining, has agreed in principle to acquire a 70% shareholding in ZCM (Zeerust Chrome Mine) from Afrika Mineral Trading & Investment Trust. Afarak said the remaining 30% would be allocated to work
25-Sep-2017 07:57 AM

Afarak notes increase in European ferrochrome benchmark

Afarak Group has noted that the European benchmark ferrochrome price has been settled at $1.39 per pound for the fourth quarter of 2017, an increase of 26.4% from the $1.10 per pound price in the third quarter of 2017. Story provided by StockMarketWir
11-Aug-2017 08:09 AM

Afarak earnings jump

Afarak's first half revenues rose to €104.1m - up from €80.3m last time - and earnings before interest, tax, depreciation and amortisation increased to €17.5m from €4.1m. In the second quarter Afarak's EBITDA increased to &e
27-Jul-2017 09:15 AM

Afarak concludes sale of sawmill equipment

Afarak Group has concluded the sale of all the remaining sawmill equipment acquired by the company in 2008. It said: "The latest and final sale of equipment amounting to €900,000 was concluded towards the end of 2016 and the final payment of &
22-Jun-2017 09:13 AM

Afarak Mogale to shut down for maintenance

Afarak Group has announced that Afarak Mogale would be shutting down P1 furnace temporarily for unscheduled maintenance from the 24 July to the end of August and that P2 and P3 furnaces would be down for scheduled maintenance for a week. It expected tha
12-May-2017 07:26 AM

Afarak earnings soar

Afarak registered its highest quarterly result since entering the mineral business in 2008 with first quarter revenues up 39% at €56.7m and earnings before interest, tax, depreciation and amortisation rising to €12.7m from €3.3m. Processe
17-Mar-2017 02:31 PM

Afarak board member resigns

Afarak Group has announced that Mr Markku Kankaala has resigned from the Company's Board of Directors. At 2:31pm: (LON:AFRK) Afarak Group share price was 0p at 72.5p Story provided by
12-Jan-2017 07:56 AM

Afarak restarts opencast mining at Mecklenburg

Afarak Group has entered into a mining services agreement with Pholagolwa Mining to continue the opencast mining at Mecklenburg. Work is currently underway on increasing the high wall to 65 metres from 40 metres. The first tonnages are expected short
16-Dec-2016 08:17 AM

Afarak increases ferrochrome output at Mogale

Afarak Group has successfully completed the transition of one of its furnaces at its Mogale plant from producing silicomanganese to ferrochrome. The Mogale plant currently has two ferrochrome furnaces in operation and another furnace still producing sili
11-Nov-2016 07:56 AM

Afarak revenues fall

Afarak reports a resilient third quarter performance in the face of a challenging quarter and says it is well-positioned to benefit from the current market upswing. Revenue decreased by 35.4% to €28.9 and there was a loss before interest, tax, dep
22-Aug-2016 08:23 AM

Afarak reports fatality at Mogale plant

Afarak Group has confirmed a fatality at its Mogale plant in South Africa. Afarak said Nelson Maurison Msimango, a 58-year old from Kagiso, Krugersdorp, who had been employed with Mogale Alloys since May 2005, died on Friday at the Millpark Hospital from
16-Aug-2016 09:09 AM

Afarak revenues fall

Afarak Group's revenues fell to €80.3m in the six months to the end of June - down from €93.8m last time. EBITDA fell by 66.9% to €4.1m and earnings before interest and tax fell to €0.8m from€8.8m. In the second quarter rev
21-Jun-2016 09:27 AM

Afarak appoints adviser

Afarak Group has appointed Cantor Fitzgerald Europe as financial adviser and corporate broker with immediate effect. At 9:27am: (LON:AFRK) Afarak Group share price was 0p at 30.5p Story provided by
16-Feb-2016 09:29 AM

Afarak earnings jump

Afarak Group's revenues rose by 8.7% to euro187.7m in the year to the end of December. EBITDA rose to euro17.2m from euro8.4m and the EBITDA margin increased to 9.2% from 4.9% in 2014. EBIT was euro9.9m - up from euro1.7m - and profit for the per
11-Feb-2016 09:59 AM

Afarak investment in 'Shaking Table' technology

Afarak Group's South African subsidiary Ilitha Mine has completed a 'Shaking Table' plant. Ilitha Mine is part of the Synergy Africa joint venture between Afarak and Kermas Limited. The 'Shaking Table' technology, already used in
11-Feb-2016 09:44 AM

Afarak financial statement bulletin

Afarak Group will publish its 2015 financial statement bulletin on 16 February. The bulletin will be available on the company's website At 9:44am: (LON:AFRK) Afarak Group share price was 0p at 32.5p Story provided by StockMark
10-Nov-2015 08:05 AM

Afarak revenues up

Afarak Group's revenue increased by 10.3% to �?¬44.8m in the three months to the end of September. Processed material sold decreased by 23.9% to 20,059 tonnes and EBITDA was fell to �?¬1.3m from �?¬2.1m with margins falling to 2.8% (Q
29-Jun-2015 08:08 AM

Afarak starts bulk sampling at Vlakpoort

Afarak Group has started bulk sampling at its Vlakpoort open pit mine in South Africa. The total open pit measured, indicated, and inferred resources are estimated at 1.9 million tonnes of chromite, as stated in the company's resource statement, wi
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