Afrox interim results June 2018
Revenue for the interim period increased to R2.9 billion (2017: R2.8 billion). Earnings before interest, taxation, depreciation and amortisation grew to R620 million (2017: R578 million). Profit for the period attributable to owners of the Company was higher at R324 million (2017: R291 million). Furthermore, headline earnings per share increased to 104 cents per share (2017: 93.3 cents per share).
It is the Company's policy to consider dividends twice annually. The board has declared a cash dividend of 52.0 cents per share (2017: 46.0 cents), declared out of the after-tax income for the six months ended 30 June 2018. Based on Afrox's policy the dividend is covered two times by headline earnings per share.
The low economic growth is likely to continue for the rest of the financial year. However, Afrox will focus on specific growth opportunities especially the Healthcare Tender award, and continue with cost containment and effective price cost recoveries.