Gases and welding company African Oxygen (Afrox) expects its earnings a share and headline earnings a share for the 2009 financial year to drop by between 50% and 60% compared with earnings recorded the year before.

The JSE-listed company's share price fell by 5% on the news to close at R21,30 a share.

In August, Afrox reported a 57% drop in interim net profit to R120-million. At the time, it said that trading conditions were "extremely tough".

Afrox would release its results for the year ended December 31, 2009 on February 18.