Afrox under pressure


The Managing Director of African Oxygen Limited has said that 2008 was undoubtedly one of the company’s most challenging years.

Last week, Afrox, the largest gases and welding products supplier in South Africa, released its year-end financial results for 2008.

Revenue increased by 18% to R5.7bn and operating profit declined by 10% to R753mn compared to the previous year.

Operating profit margin dropped to 13% from 17% as a result of the difficult economic environment, particularly in the fourth quarter.

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