AECI expects Heps to climb 125% higher
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CHEMICALS group AECI said on Friday its headline earnings a share were expected to be between 515 cents and 540c, which was 115 to 125 percent higher than the 240 cents reported for the half-year to the end of June 30.
Although the negative effects of the pandemic continued to impact on some of the sectors in which AECI’s customers operate, this impact had been less severe than in the first six months of last year.
Costs to restructure businesses in AECI Chemicals last year, to enhance sustainability in the low-growth environment, did not recur, and the benefits of restructuring were realised in line with expectations.
Earnings a share in the prior corresponding period were negatively affected by the impairment of goodwill, property, plant and equipment because of the group’s exiting non-performing businesses, offset by the profit on disposal of the paper chemicals business unit.