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Rolfes recovers with solid earnings increase

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The chemical company is pleased with its ‘good progress in a tough environment’ as its pigments and water operations reverse their losses

A return to profitability of its pigments and water operations has driven up earnings for chemicals group Rolfes.

The turnaround in its colour division followed it incurring a R4.7m in the corresponding period. Back then, its earnings were negatively affected by cost related to a site clean-up and the writing off of obsolete stock.Rolfes also benefited from the improved profitability of its water division. Though this division saw revenue drop 16.3% to R20.1m, it still managed to reverse the corresponding loss of R4.8m to make a R800,000 earnings before interest, taxes, depreciation and amortisation profit.

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