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Omnia expects to report higher interim earnings

8th November 2021

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

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JSE-listed chemicals company Omnia expects to report an 89% to 109% year-on-year increase in earnings a share to between 287c and 317c for the six months ended September 30.

Headline earnings a share are expected to be between 95% and 115% higher at between 291c and 320c.

A review of the group’s continuing operations, which excludes Oro Agri and Umongo Petroleum, has indicated that earnings a share from continuing operations are expected to be between 108% and 128% higher at between 266c and 291c.

Headline earnings a share from continuing operations are expected to increase by between 116% and 136% to between 270c and 295c.

Earnings measures reported above were negatively impacted by Omnia Zimbabwe, which operates in a hyperinflationary economy.

Omnia Zimbabwe reported a loss after tax of about R29-million for the six months under review, compared with a profit after tax of R145-million for the six months ended September 30, 2020.

Omnia will release its interim results on November 22..

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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