Upbeat Omnia shifts focus to growth, but it’s cautious about SA
The group has benefited from rising demand for fertilisers and explosives, but is saving its cash pile as it considers what's next for its growth
Chemicals, fertiliser and explosives group Omnia says half-year profit doubled as it managed to capture growing demand from mining and agriculture for inputs, but it is holding on to a hefty cash pile for now as it considers taking the next steps in for growth.
Two years of efforts to stabilise the group have paid off, CEO Seelan Gobalsamy told Business Day. Omnia has opted to hold off on rewarding shareholders for now as it considers acquisitions and organic expansion of its global mining and agriculture businesses. ..