ArcelorMittal’s South Africa unit ACLJ.J swung back into a modest profit in the first half of the financial year, boosted by higher steel prices and upbeat sale volumes, the firm said on Wednesday.

Diluted headline earnings per share (HEPS) for the six months ended 30 June, 2018, is 5 cents per share compared with a loss of 148 cents per share a year ago. This was in line with the company’s expectations for the first half of 2018.

HEPS is the main profit measure in South Africa that strips out certain once-off items.