Merafe, a Johannesburg Stock Exchange-listed ferrochrome and chrome company, reported a record R1.753bn profit for the 12 months to December 31 amid challenging economic conditions.
Merafe, a Johannesburg Stock Exchange-listed ferrochrome and chrome company, achieved record profit of R1.753bn in the 12 months to December 31 despite challenging economic conditions. The company declared a final cash dividend of R550m, bringing total dividends for 2023 financial year to R1.050bn, up from R625m in 2022. Chrome ore sales volumes increased and realised prices rose due to high demand and supply constraints, but ferrochrome demand was weaker, resulting in lower sales volumes.
March 18, 2024
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