Afrox reports 2019 annual financials


Afrox has today released its 2019 results, highlighting an increase in revenue to R6.09bn ($397.6m) and an increase of 45.5% in EBIT.

Sub-Saharan Africa’s leading industrial gases and welding company attributed its increased revenue to volume growth in certain sectors of the business and successful recovery of cost inflation from effective pricing management.

Adjusted for the impact from the change in liquefied petroleum gas (LPG) market prices of R96m ($6.27m), total revenue growth was 2.3%.

Earnings before Interest and Taxes (EBIT or Group Operating Profit) at R867m ($56.6m) increased by 45.5%.

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