African Oxygen Limited (Afrox) yesterday reported revenues of more than R2.6bn and operating profit of R450m for the six months ended 30th June 2008, maintaining a confident approach despite tough trading conditions.
Net profit for the period stood at R282m with earnings per share of 89.8 cents. When compared to the same period in 2007 (though the financial year-end has been adjusted in line with parent company, The Linde Group), revenues increased 18% and operating profit by 13%.
Net profit rose 19% and basic earnings per share were up 18% as the company responded well to improving operational performance.
Capital expenditure of R315m saw the company expand its CO2 capacity, increase its cylinder stockpile and launch a major refurbishment programme of existing plant and machinery.
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