African Oxygen Limited (Afrox) has realised very satisfactory sales for the
first quarter of the financial year, despite a continuing lack lustre
economy. Afrox“s recently appointed chairman, John …
African Oxygen Limited (Afrox) has realised very satisfactory sales for the first quarter of the financial year, despite a continuing lack lustre economy. Afrox“s recently appointed chairman, John Walsh, told the shareholders at the company“s 74th annual general meeting at the end of January. “At the same time, the company expects that its full year results for the period ended September 2002, will show increases in revenue, profits and headline earnings,” said Walsh. Iindustrial business has experienced a considerable improvement in liquefied petroleum gas (Handigas) trading conditions. In addition, export sales of welding products, mainly to South East Asian countries, is showing higher than expected volumes, helped by the decline in the rand against the US dollar. The company has a sound balance sheet, with gearing at 27%. Afrox Healthcare“s gearing stands at 6,1%.