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S.Africa’s Omnia Holdings flags jump in annual profit

JOHANNESBURG, June 11 (Reuters) – South Africa’s Omnia Holdings expects its annual profit to jump as much as 161% after restructuring and asset sales, the chemicals and fertiliser maker said on Friday.

Omnia expects headline earnings per share (HEPS) – the main profit measure used in South Africa – of 371 to 402 cents per share versus 154 cents a year earlier, the explosives maker said.

It said it had recorded a one-off profit from the $146.9 million sale of its Oro Agri division to agricultural services firm Rovensa.

Omnia said the group’s operational performance had exceeded expectations despite coronavirus lockdowns in the first quarter and a resurgence in infections across regions where it operates.

“Omnia remains focused on its commitment to improve overall returns through the pursuit of organic and inorganic growth opportunities, greener technologies and expansion into geographies that enhance its impact in the world and ultimately create value for stakeholders,” the company said.

Omnia is expected to release its results for the year ended March 31 on June 22. (Reporting by Akhona Matshoba; editing by Tanisha Heiberg and Jason Neely)

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