African Oxygen increases earnings by 11.5%
JOHANNESBURG - Gas manufacturer African Oxygen said on Monday it increased revenue by 3.9 percent to R2.9 billion in the half year to June, while headline earnings per share rose 11.5 percent to 104 cents.
The company said it managed to increase both revenue and earnings before interest, taxation, depreciation and amortisation as a result of volume increases in liquefied petroleum gas, healthcare and bulk industrial gases in combination with good cost control management and the impact from efficiencies across the organisation.
"The low economic growth is likely to continue for the rest of the financial year," it said.
"However, Afrox will focus on specific growth opportunities especially the healthcare tender award, and continue with cost containment and effective price cost recoveries."
Afrox declared an interim gross cash dividend of 52 cents per ordinary share.
- African News Agency (ANA)