Afrimat's diversified footprint helps deliver record results, and now it's eyeing copper

Afrimat, a mid-tier mining and construction materials company, has reported record annual revenues, profits and cash generation, as its diversified growth strategy continues to pay off.

The group reported an almost 24% revenue rise to about R6 billion to end-February on Thursday, with operating profit up almost a fifth to about R1.2 billion. The owner of mines and quarries shrugged off SA's rail dysfunction and upped its final dividend by 40% to R1.54, about a R246 million payout, while its total dividend rose about 29% to R1.94.

Afrimat CEO Andries van Heerden told News24 that it was a "fantastic year," putting this down to a strategy over the past 15 years to diversify and grow the business across commodities.