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Afrox expects triple-digit FY earnings hike

29th January 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Gas provider African Oxygen (Afrox) on Friday reported an expected surge in earnings after reining in fixed costs and restructuring the business in 2015.

Earnings a share for the year to December 31, were expected to increase some 388% to 407% to between 131c and 136c, compared with 26.8c a share in 2014.

Headline earnings a share were expected to be between 135c and 142c a share during the year to December – 272% to 292% higher than the 36.2c posted in the prior year.

“The increase in forecast earnings a share and headline earnings a share is largely due to the improvement in margins as a result of the reduction in fixed costs and the successful finalisation of the restructuring activities,” Afrox said.

The company would publish its results on February 29.

Edited by Creamer Media Reporter

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