Chemicals producer Omnia’s share price fell 6% to R151.99 on Friday morning after it warned shareholders it expected to report an up to 25% drop in earnings. Omnia said in a trading statement it expected to report on November 29 a 20%-25% decline in basic and headline earnings per share for the six months to end-September. No reason for the drop in earnings was given in the statement. The earnings decline expected in its coming interim results follow a 29% headline earnings drop in Omnia’s results for the year to end-March released in June. Omnia said in its last financial statement the drought harmed its fertilizer sales to farmers and low commodity prices depressed explosive sales to mines.
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