African Oxygen Limited (Afrox) achieved what it describes as ‘pleasing real growth’ for the 15 months ended 31st December 2007, as revenue increased 16% and operating profit rose by a healthy 19%.
Revenue grew to R5.9bn, operating profit rose to R1.1bn and core headline earnings per share (HEPS) reached an impressive 217.5 cents per share, showing a 19% increase.
Afrox invested R1bn during the period as part of a continuing programme to modernise its asset base and in addition to investment in LPG storage facilities, bulk tankers and cylinders, Afrox also commissioned 3 air separation plants and is constructing a new CO2 facility at Sasol in an effort to meet rising demand in the bottling and hospitality markets.
The construction of state-of-the-art facilities at Afrox’s cylinder filling hub in Germiston and its MIG-wire factory in Brits are expected to have a positive impact on relieving product shortages in the coming year.
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