WATCH: Delayed planting season upsets Omnia
Chemicals and fertiliser manufacturer Omnia has swung into an interim loss driven by rand volatility coupled with seasonal volatility experienced in the agricultural sector. That division suffered an operating loss of R37m.
Omnia's mining division's operating profit plunged 69% while the manufacturing division remains constrained, feeding into a slowdown in the chemicals division where the company plans to cut 125 jobs.
Adriaan de Lange, group MD of Omnia, joined Business Day to offer more perspective on the detail behind the earnings picture.
Adriaan de Lange, group MD of Omnia, joined Business Day to offer his perspective on the company’s interim loss.