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Afrox’s profits to expand

February 14 2013 at 05:33pm
By Londiwe Buthelezi.

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CorporateBusiness

African Oxygen’s (Afrox’s) basic earnings a share for the financial year to December last year could rise by between 38 percent and 58 percent from 59.2c in 2011, the industrial gas supplier indicated yesterday.

Afrox, which is controlled by The Linde Group, said the increase was primarily a result of lower impairments provided against the carrying value of property, plant and equipment in 2012 compared with 2011.

Afrox advised, however, that headline earnings a share were expected to be as much as 2 percent lower than the previous year.

The shares lost 1.22 percent to close at R24.30.


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