AECI, a South African chemicals and explosives company, has reported strong sales growth and market share gains for the six months ending June 2023.
- The company’s revenue increased by 12% compared to the same period last year, driven by higher sales volumes and improved pricing.
- AECI’s operating profit increased by 33% to R1.2 billion (approximately $82 million).
- The company’s explosives division performed particularly well, with a 25% increase in operating profit.
- AECI’s mining chemicals division also saw strong growth, with a 14% increase in revenue and a 23% increase in operating profit.
- The company’s water and process division, which provides chemicals and services to the industrial and municipal water treatment sectors, reported a 7% increase in revenue.
- AECI’s management team expressed confidence in the company’s ability to continue delivering strong results and creating value for shareholders.
- The company is focused on pursuing growth opportunities in its core markets and expanding its presence in new geographies.