AECI books record results, but takes hit from war in Ukraine
Group revenue rose 31% in the firm's half-year to end-June, but profit climbed only 8%, with the conflict hitting demand for agrochemicals
27 July 2022 - 09:48
Chemicals and explosives group AECI says elevated commodity prices helped revenue climb almost a third in its half-year to end-June, but profit growth was more sedate, after the war in Ukraine severely hit demand for agrochemicals there and pushed up costs.
Group revenue rose 31% to a record R15.5bn to end-June, and headline profit 8.2% to R605m, with AECI also deciding not to write down its Schirm business, which has production sites in Germany, despite pressure from the conflict...
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