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AME delivers double-digit growth for first-half

AME, a South African electrical and automation company, reported a robust financial performance for the first half of its fiscal year, showcasing double-digit growth. The company's revenue increased by 17% to R2.1 billion, while operating profit surged by 33% to R178 million. This growth was driven by strong demand in its core markets, particularly in mining, industrial, and renewable energy sectors. AME also highlighted a significant improvement in its gross profit margin, which rose from 27% to 30%, attributed to better pricing strategies and cost management. Despite facing challenges like supply chain disruptions and rising costs, AME managed to enhance its operational efficiency and expand its market share, positioning itself well for future growth. The company's CEO, Chris Booyens, expressed optimism about the remainder of the year, citing a solid order book and ongoing investments in technology and human capital.

Read the Full Moneyweb Article at [ https://www.moneyweb.co.za/news/companies-and-deals/ame-delivers-double-digit-growth-for-first-half/ ]