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VENTURES AFRICA – JSE-listed chemicals firm, AECI has said is expects a profit explosion for the year ended December 2013, adding that earnings per share during the annual period under review will see a surge between 55 and 65 percent.
AECI did not give a detailed explanation of what exactly bolstered the company’s earnings a share during the period under review because it is currently in a closed period, which is the time between the completion of a listed company’s financial results and the announcement of these results to the public.
The close period is often one-month period before the actual release of the quarterly or half-yearly results. For the annual results it is often a two-month period before the release of the results.
A couple of weeks ago, AECI, said it had acquired Clariant Southern Africa, an African asset of the Swiss-based chemicals firm, Clariant International, for R409 million ($37,2m).
It said the acquisition was in keeping with AECI’s plan of expanding in Africa to provide water treatment solutions through its wholly-owned subsidiary, ImproChem, which has laboratory and engineering facilities in Johannesburg and Durban.