Omnia flags drop in interim profit as tough economy bites
Group expects headline earnings per share to decline 2%-12%
07 November 2023 - 10:16
Chemicals, fertiliser and explosives group Omnia has warned of a drop in its interim profit as it had to contend with a tough global economic landscape, characterised by poor economic growth, high inflation, supply chains disruptions and volatile commodity prices and exchange rates.
The SA economy has seen subdued consumer and business confidence, particularly within the manufacturing sector, the company, valued at about R9.8bn on the JSE, said on Tuesday in a voluntary update for the six months to end-September...
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