Chemicals giant AECI satisfied with profit rise
First-half results are ‘resilient’ despite 7% slide in revenue
Explosives and chemicals company AECI says it delivered a "resilient" overall performance in extremely difficult trading conditions, especially in SA, in the six months to June. Profit from operations soared 19% year on year, while headline earnings per share jumped 32%. During the first half, SA’s manufacturing sector slowed further and rand strength offset moderate increases in commodity chemicals prices. This weighed on group revenue derived from the mining, water, agriculture, food and industrial chemicals sectors. "We’re not shooting the lights out, but it’s a really credible performance in terms of the environment," CEO Mark Dytor said on Wednesday. The group said more normal rainfall patterns in Southern Africa had allowed the agricultural products segment to recover, except in the Western Cape, where drought remained a "grave concern". AECI also said conditions in domestic and international mining had improved, with some commodity price increases stimulating higher mining ou...
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.