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enX Group reports lower interim earnings

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However, revenue edged slightly higher, boosted by ‘good growth in both the lubricant and chemical businesses’

enX Group, which provides industrial and petrochemical products as well as fleet management and logistics services, said on Wednesday that net profit in the six months to February fell 8% to R129.3m.

While operating profit increased 6.8% to R378.3m, higher net finance costs and a higher effective tax rate weighed on earnings, enX said. The Eqstra fleet management and logistics business’s lease book “is now increasing” after improving customer retention rates and winning new business.

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