Related Articles
Top Stories
Feb 12 2012 15:59
Moral hazard, financial weapons of mass destruction, a huge mess - these were the words used by a founder member to sum up the collapse of the Pinnacle Point Group.
Feb 12 2012 15:58
Construction companies are now undertaking a second round of self-examination into uncompetitive behaviour.
Feb 12 2012 14:54
American billionaire George Soros has slammed German Chancellor Angela Merkel, warning that her policies could lead to a repeat of the Great Depression.
Johannesburg - Chemical services group Omnia has delivered a "year of solid growth", said its MD Rod Humphris on the release of its year to end-March results.
Humphris said in a press release these results have been achieved in challenging market conditions and indicate the resilience of the group's strategy and its strong positioning in key growth markets.
Omnia reported an increase in revenue of 51% to R11bn, with net profit up 57% to R491m and headline earnings per share of 1 114.2c, up 54%.
The company said it was able to increase prices on the back of higher raw material costs, while volumes grew as farmers stockpiled fertiliser.
Omnia said prevailing international grain prices, and the related focus on biofuels, should continue to favour the fertiliser business and the group.
"Although we achieved exceptional earnings in the period under review, these results are not sustainable going forward. However, we have made significant investments and feel encouraged that we are now in a strong position to move forward," said Humphris.
On Tuesday morning Omnia was unchanged on the JSE, at 5 649c/share. The company has a market capitalisation of R2.55bn.
- Fin24.com