AECI flags earnings decline but upbeat about recovery
One-off events that contributed to unusually high operating costs are expected to ease in the second half
24 July 2024 - 16:46
Chemicals and mining explosives group AECI has warned investors to brace for lower earnings when it presents its half-year results at the end of July, sending the company’s shares crashing more than 10%.
The group on Wednesday said headline earnings per share (HEPS) are expected to be 54%-60% lower to end-June compared with the 603c recorded in the prior period, citing declining commodity prices, supply chain disruptions, a slowdown in the mining industry and one-off events that contributed to unusually high operating costs...
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