In the face of the biggest fall in South Africa’s gross domestic product (GDP) since 1960, African Oxygen Limited (Afrox) has today reported strong cash management and cash flows in its interim results, placing the company in a good position to take advantage of emerging opportunities.
Sub-Saharan Africa’s leading industrial gases and welding company said it has steered a managed but flexible path through the economic destruction of the Covid-19 lockdown, which saw a large percentage wiped off South Africa’s GDP in a matter of months.
“Many businesses have been severely affected and many more will take years to recover from the economic disruption caused by this pandemic,” said Afrox Managing Director Schalk Venter (pictured right).
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