url2: http://newsformal.com/us/news-41563768AECI upbeat about record revenue growth - and relatively smaller SA footprint | Business | United States
News Formal

AECI upbeat about record revenue growth - and relatively smaller SA footprint | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 80%

United States News News

United States United States Latest News,United States United States Headlines

JSE-listed explosives and chemicals group AECI, one of SA's oldest companies, says it's pleased with record growth revenue in for its half-year to end June, while it's also making progress in its strategy to diversify offshore. | News24_Business

JSE-listed explosives and chemicals group AECI, one of SA's oldest companies, says it's pleased with record growth revenue in for its half-year to end June, while it's also making progress in its strategy to diversify offshore.

Driven mostly by operations outside of SA, AECI increased its revenue 19% to R18.4 billion in the six months ended June, but profit only grew only 4% to R650 million. The group was weighed down by a R180 million loss by its Schirm business in Germany, which has been hit by a downturn in agrochemical demand in war torn Ukraine. The group almost halved its interim dividend to R1 per share.

Despite this, the company is pleased about progress in restructuring Schirm, CEO Holger Riemensperger said on Wednesday, while the group had also seen market expansion in both its water and mining businesses.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Steinhoff shareholders vote to dissolve company, delist from the JSE | BusinessIn exchange for delisting and handing over economic control to its creditors, the struggling retailer has been granted a three-year debt repayment holiday.
Source: News24 - 🏆 4. / 80 Read more »

Post Office creditors approve extension for business rescue plan, confirm practitioners | BusinessThe creditors of the SA Post Office have confirmed Anoosh Rooplal and Juanito Damons as the struggling state-owned company's joint business rescue practitioners. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

MARKET WRAP: JSE muted, rand firmer ahead of global rates decisionsRates decisions from the Fed, ECB and Bank of Japan and US big tech earnings will be the focus of attention this week
Source: BDliveSA - 🏆 12. / 63 Read more »