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Afrox H1 profits up on volume increase, cost cuts

An interim dividend of 46 cents per share declared.
Photo: Moneyweb

South African industrial gas supplier African Oxygen (Afrox) half-year profits rose 22% after earnings were boosted by increased volumes and effective cost management, the company said on Friday.

Headline earnings per share, the main profit measure in South Africa that strips out once-off items, 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.

Africa’s biggest gases group said earnings before interest, tax, depreciation and amortization (EBITDA), were boosted by increased sales, recovery of cost inflation from pricing and effective cost containment.

EBITDA is used as a measure of a company’s operating performance.

The company declared an interim dividend of 46 cents per share compared to a 38 cents per share interim dividend last year. 

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