• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

AECI earnings hit by mining woes

Feb 26 2013 07:57

Company Data


Last traded 89
Change -1
% Change -1
Cumulative volume 180388
Market cap 0

Last Updated: 27-11-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Mark Dytor to head AECI

AECI to acquire GE's chemical business

AECI shares down on earnings forecast

Watchdog blocks chemicals merger

Nedbank and AECI conclude R1bn deal

AECI sees fall in full-year earnings


Johannesburg - Chemicals and explosives maker AECI [JSE:AFE] posted a 24% fall in annual earnings on Tuesday, snapping three straight years of growth as slack demand from strike-hit mining firms weighed.

AECI said headline earnings per share totalled 547 cents in the year to end-December compared with 720c a year earlier.

Revenue rose 11% to R14.92bn, largely as a result of the weaker rand/dollar exchange rate and increased selling prices. Overall volumes were flat.

A weaker rand is a positive for South African exporters as it lifts profits when overseas earnings are brought home.

Last year's protracted strikes in the mining, transport and agricultural sectors hit the group's profit from operations by more than R100m.

AECI is expected to struggle this year as its key customers in the mining industry in South Africa shut unprofitable mines and cut capital expenditure to head off the effects of lower metal prices and higher costs.

The company declared a final cash dividend of 185c per ordinary share, up from 179c the previous year.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

aeci  |  mining unrest


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote