AECI has mainly shrugged off drought and SA’s disastrous mining impasse to deliver a “more than pleasing” result for the year ended December 2017. The mining and agricultural chemicals group reported a 17% jump in headline earnings per share, its highest ever. This was helped by a strong fourth quarter. Profit from operations leapt 18% to R1.58bn as earnings before interest, tax, depreciation and amortisation grew 11% to R2.2bn. Profit for the year soared 21% to R983m from R812m in 2016. This comes from recovery in global resources, the company’s greater diversification and disciplined cost control. But drought in the Western Cape is still hitting exports of stone fruits and vegetables that are grown using AECI agrichemical products. Aslam Dalvi, associate portfolio manager at Kagiso Asset Management, said the results were good, particularly in the second half of the year. “While mining solutions was the stand-out performer, the company also delivered credible performances across th...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.