OMNIA Holdings said yesterday that despite trading challenges, which include the Covid-19 pandemic and the war in Russia/Ukraine, its refreshed operating model resulted in resilient operating performances across the businesses.
JSE-listed, diversified chemicals company Omnia Holdings, which yesterday released its trading results for the year ended March 31, 2022, said that its ongoing successful execution of the group's strategy had bolstered its operating performance.
Total headline earnings per share was expected to increase by between 70 and 90 percent, from headline earnings per share of 376 cents for the year ended March 31, 2021, to headline earnings per share of between 639c and 714c for the year ended March 31, 2022.
Total earnings per share is expected to change by between -12 percent and 8 percent, from earnings per share of 829c to earnings per share of between 727c and 893c.
Headline earnings per share from continuing operations is expected to increase by between 77 and 97 percent, from headline earnings per share of 361c from the previous year to headline earnings per share of between 639c and 711c.
"The challenging trading conditions brought about by Covid-19, ongoing supply chain disruptions, volatile input costs, extreme weather conditions, and the consequences from the war in Ukraine were effectively mitigated by Omnia's strong customer focus, optimised supply chain and integrated manufacturing facilities.
“This resulted in pleasing improvements in revenue, operating margin, and cash generation. Omnia also continues to reinforce the culture of safety and drive its ESG targets across all operations," Omnia said.
Disciplined cash management by the group and the receipt of the Umongo Petroleum proceeds had underpinned the group's strong financial and net cash position, Omnia said.
The group sold a majority stake in Umongo Petroleum for R1 billion.
Omnia expects to release its annual results around June 20.
BUSINESS REPORT