African Oxygen (Afrox) has announced that its half-year profits rose 22 percent, after earnings were boosted by increased volumes and effective cost management. Headline earnings per share rose to 93.3 cents per share, compared with 76.5 cents per share for the same period last year. This was in line with what the company had previously flagged to the market.
Pictured: Matthias Vogt, Afrox CFO
The South African industrial gas supplier also said that earnings before interest, tax, depreciation and amortisation (EBITDA), were boosted by increased sales, recovery of cost inflation from pricing, and effective cost containment.
The company declared an interim dividend of 46 cents per share, compared to a 38 cents per share interim dividend last year.
