UPDATE 2-SAfrica's Hulamin H1 profit flat, sees improved H2

* H1 headline EPS at 11 cents vs 10 cents year ago

* Sales volumes rise by 32 percent

* CEO says expects a better second half

* Shares flat while all-share index firmer

(Adds details, CEO comments, background)

JOHANNESBURG, July 26 (Reuters) - South African semi-fabricated aluminium maker Hulamin Ltd (HLMJ.J: Quote) expects an improvement in the second half after first-half profit came in flat as a stronger rand offset higher sales volume.

"The start of the third quarter has been reasonably encouraging as far as volumes are concerned. If this continues we are expecting to have a better second half," Chief Executive Richard Jacob told reporters during a conference call.

Aluminium consumption plummeted last year as economies around the world fell into recession, but demand is expected to recover as the global economy continues to rebound. [ID:nKLDE62T0V]

Hulamin, Africa's biggest maker of semi-fabricated aluminium, said on Monday headline earnings per share for the six months to end-June totalled 11 cents from 10 cents a year earlier, after taking into account the impact of a rights issue.