The New Age
CAPE TOWN – Company Sasol yesterday reported that it expected a decrease in its headline earnings by at least 11% for the year ended June.
“Headline earnings per share (Heps) for the same year are expected to decrease by between 11% and 22% from the prior year Heps of R41.40.”
This was attributed to a tough economic environment, low oil price and rand.
The group also said in a trading update that its earnings per share would increase by 48% to R10.40 for the year ended June.
Sasol said it had delivered a “strong” business performance across most of its value chain, with their Seconda Synfuels Operations Reporting record volumes and the Eurasian Operations delivering their highest production volumes since 2015.
However, the group said that continued volatility in the micro-economic environment, particularly the stronger rand and low oil prices, has adversely impacted their financial performance.
The group’s financial results for the financial year ended June 30 will be announced on August 21.
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Edited by Peter Okafor, ExpressCapetown
PHOTO: Sasol hit by tough economic environment. Picture: Sasol Parklands, Peter Okafor, ExpressCapetown