31 August 1998 00:00 [Source: ICB]
South African chemicals and explosives group AECI recorded a 34% drop in net profit to Rand106m ($17m) for the first half of 1998. Sales increased by 5% to Rand4bn in the same period.
AECI Explosives turned in an operating profit of Rand90m, up on Rand28m for the same period last year. The figure for Sans Fibres was Rand71m, 14% up on the 1997 result. The fertilisers business, Kynoch, continued to suffer the effects of low world prices and last year's Rand33m profit turned into a loss of Rand23m for the first half of 1998.
Capex of Rand805m included Rand570m for the purchase of 51% of the explosives business.
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