A E C I LIMITED - Unaudited condensed consolidated financial results and cash dividend declaration for the period ended 30 June 2026

What this filing means

A real operational beat against low expectations. AECI reported HEPS up 8% to 653 cps and EPS up 18% to 348 cps, driven by margin expansion and sharply lower net finance costs, after a pre-result sell-off left the share down 5.1% — the market was not positioned for this. Net debt halved and the dividend rose 16%, but the R1,542 million working capital build turned free cash flow deeply negative, raising a legitimate question about the quality of the earnings recovery.