The share price of African Oxygen (Afrox) jumped 10.6% to R20.50 on Friday morning after it said its coming results would show interim earnings grew by up to a third. Afrox said in a trading statement it expected to report on September 8 its basic and headline earnings a share for the six months to end-June would be within the range of 20% to 33% higher. The increase was largely due to an increase in volumes in most areas of the business, improved operational efficiencies together with an increase in interest earned, the trading statement said. In its results for the year to end-December, Afrox benefited from a R165m settlement from a dispute with ArcelorMittal which the steel producer was ordered to pay in tranches.
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