Chemicals and explosives group AECI expects to report an increase in headline earnings per share (HEPS) for the year ended December 31 2021 as it returned to near pre-Covid-19-pandemic levels of activity.
Earnings per share (EPS) are expected to touch more than 100% higher than the prior responding period, the company said Wednesday.
In a trading statement, the JSE-listed firm said it had experienced a strong recovery from the effects of Covid-19 as the group returned to near pre-pandemic levels of activity, maintaining a solid financial position, with good cash generation.
The group expects to report an increase of between 24% and 29% in HEPS to be between 1,090c and 1,135c, compared to 880c reported in the prior corresponding period.
EPS is expected to be more than 100% higher than the reported 127c in the prior corresponding period totalling between 1,110c and 1,135c.
AECI said it had repaid a large portion of its term debt from the cash generated, notwithstanding steep increases in certain raw material prices, supply chain interruptions and volatile demand patterns.
The chemicals maker valued at R12bn on the JSE operates 16 businesses in 26 countries on six continents, supplying to mining, agrihealth, water and chemical industries.
AECI’s share price was little changed on the JSE on Wednesday at R111.97, giving it a market capitalisation of R12.5bn.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.