Financial highlights

	Revenue from continuing operations +48% to R12,8 billion
	Operating profit on continuing businesses +39%
	Dividend for the year +8% to 231c (final = 141c)
	HEPS +16% to 412c

Commentary

Performance

The Group’s revenue from continuing operations grew by an impressive 48% to R12,8 billion (2007: R8,7 billion) on the back of rising commodity prices in the first nine months of the year, as well as volume growth in all of AECI’s business segments other than property. Operating profit from continuing operations increased by 39% to over R1 billion. Operating margins in respect of continuing operations were marginally lower at 8,3% (2007: 8,6%), primarily as a result of high commodity prices relating to sulphur and ammonia. Fixed costs remained well controlled. Headline earnings of R443 million, equivalent to 412 cents per ordinary share, increased by 16% compared to the previous year (2007: 355 cents per ordinary share).

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