Despite previously pinpointed capacity constraints and a slightly disappointing economic climate, Afrox’s operational results for 15-month period ending December 2007 were good and the company is actively looking ahead for sustained growth.
Core headline earnings per share were 19% higher than the equivalent prior period at 217.5 cents per share and 19% higher at 176.8 cents per share on a 12-month basis. Operating cash flow was a robust R1.3bn but in turn there were high demands on cash flow, not least R1bn in capex, and a special dividend of R185m to shareholders.
Particularly good growth was seen in CO2 with volumes up 12%, Healthcare up 6% and LPG volumes up 4%.
Afrox’s African operations are now in excess of 15% of group operating profit and capacity enhancements in South Africa will ensure reliability of product into the sub-Saharan markets, placing Afrox in a strong position.
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