Mining and agricultural chemicals group AECI reported a relatively strong set of results on Wednesday, helped in part by two acquisitions, which the company bedded down in 2018. Europe-based Schirm, which is a contract manufacturer of agrochemicals and fine chemicals, was acquired as part of its international expansion strategy. The other one is Cape Town-based Much Asphalt, a supplier of hot and cold asphalt products. The two deals helped the group bump its profit from operations up 35% to R911m in the six months to end-June, from a year ago. Revenue rose 24% to R10.473bn. AECI has expanded its portfolio beyond the traditional mining and chemical operations, which still account for the biggest share of the group revenue.
AECI operates out of five divisions — mining solutions; water and process; plant and animal health; food and beverage; and chemicals. Mining solutions grew revenue 10% to R5.021bn, with just more half of this coming from outside SA, meaning that the division ...
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