JSE-listed African Oxygen (Afrox) on Tuesday posted an improvement in earnings for the six months ended June 30, as the restructuring efforts of 2015 start bearing fruit and delivering improved margins.
The group, which will publish its interim results on September 8, expects to report a 106% to 126% jump in earnings a share to between 72c and 79c.
Headline earnings a share for the first half of the year are anticipated to reach 71c to 78c apiece – 90% to 109% higher than the 37c achieved in the prior corresponding period last year.
Afrox’s share price on the Johannesburg bourse was up nearly 8% by midday.