Diversified explosives and chemicals group AECI reported a strong start to its 2023 financial year as operating profit grew by a quarter, lifted by revenue growth and market share gains by its largest segment.

The company, valued at about R9.4bn on the JSE, said in an update for the five months to end-May that its operating profit, generated from a company’s core operations, rose 25% year on year to R1bn, despite agrochemicals company AECI Schirm Germany suffering a loss of R154m...

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