African Oxygen Limited (Afrox) has reported a steady rise in revenue in its latest 2018 full-year financials.
South Africa’s largest gases group and member of Linde plc saw its revenue rise by 6% to ZAR 6bn ($422m) due to a combination of higher volumes in certain sectors of the business and successful recovery of cost inflation as a result of effective pricing management.
Afrox’s Earnings before Interest and Taxes (EBIT) decreased by 30.3% to ZAR 596m ($42m). After adjusting for 2018 non-recurring items (the restricting provision of ZAR 52m ($3.7m) and the impairment of certain plants ZAR 55m ($3.9m)), the EBIT declined by 17.8% on a comparable basis.
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