AFROX, a member of the Linde Group, has released interim results for the period ended 30th June 2017.
During the six months under review, Afrox increased both revenue and Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) as a result of an increase in volumes, recovery of cost inflation from pricing and continued effective cost containment.
As a result of the improvement in volumes in certain sectors of the business, revenue increased by 6.8% to ZAR 2.8bn ($216m). The growth in revenue was achieved despite the continued weakness in the South African economy. The volume improvement, supported by effective cost management, led to an increase of 10.5% in EBITDA to ZAR 578m ($44m).
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