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Chemicals and mining group AECI has reported a 20% rise in profit for the first half, driven by a strong performance in its mining unit.The group on Tuesday reported profit from continuing operations for the six months to end-June grew by a fifth to R837m, despite revenue declining 4% to R15.07bn.Earnings before interest, tax, depreciation and amortisation (ebitda) from continuing operations were up 2% to R1.6bn.HEPS was up 8% at 653c, and an interim dividend of 116c per share was declared.Headline earnings were affected by impairment charges of R330m, mainly relating to AECI Schirm in Germany.The group said the higher earnings were driven by higher operating profitability and lower net finance costs, reflecting the benefit of reduced debt levels as debt declined to R1.74bn from R2.92bn a year ago.AECI Mining increased revenue and ebitda by 6%, with growth driven by strong execution in Southern Africa and Asia-Pacific, ongoing operational efficiencies and an improved product mix, the group said.The chemicals segment delivered a resilient performance in a challenging operating environment, with the year-on-year comparison significantly affected by the disposal of businesses during 2025, AECI said.The unit’s revenue decreased to R5.6bn from R6.8bn and ebitda fell to R407m from R458m as difficult market conditions led to operating losses at Schrim.AECI said it will continue to pursue opportunities, focusing in Africa and Asia-Pacific while maintaining a focus on safety, operational excellence, cash generation and returns. The latest results come as Alan Dickson takes the reins as CEO. Business Day reported earlier this year that Dickson was appointed after a formal selection process with effect from July 1.Dickson took over as CEO from Dean Murray, who served in an interim capacity from October 2025, after Holger Riemensperger stepped down as CEO.Business Day
