enX Group shares rise 10% as it reaffirms growth strategy

enX Group, the JSE-listed manufacturer and distributor of power equipment and chemicals, saw its share price shoot up over 10% on Wednesday after it confirmed a strategy to grow its businesses and dispose of them if opportunities become available.

- EDWARD WEST

The share price increased by 10.89% to R4.99 on the JSE Wednesday afternoon, but the price is much lower than the R9.20 it traded at a year ago. The net asset value per share was R8.65, compared to R9.06 on August 31, 2024. The company had paid a special distribution of R1.55 per ordinary share on April 7, 2025, amounting to R283 million.

In its results for the six months to February 28, the company directors reported a good performance in the Chemical segment; however, with almost no load-shedding in the period, demand within the Power segment reduced considerably compared to the prior period.

Profit before tax from continuing operations was 19% lower at R64m. Headline earnings per share from continuing operations were 29% lower at 22 cents a share.