AECI results
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Chemicals and explosives group AECI is proceeding with a R110m interim dividend payment, albeit a “conservative one”, as it braces for further fallout from the Covid-19 pandemic.Headline earnings per share fell 34% to 240c in the group’s six months to end-June, with profit falling 36% to R260m, as the pandemic shuttered mines and factories. The group saw writedowns of goodwill, property, plant and equipment amounting to R69m during the first half of 2020, as well as restructuring costs. This was partly offset by the receipt of R108m in profit on the sale of its paper chemicals unit. CEO Mark Dytor, explains to Michael Avery why he remains cautious about talks of infrastructure led growth and recovery in South Africa.
