BUSINESS & TRADE NEWS

SASOL HIT BY HARSH ECONOMIC ENVIRONMENT

The New Age

SAM_0090


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.

For more on this, go to thelman@thenewage.co.za

Edited by Peter Okafor, ExpressCapetown

PHOTO: Sasol hit by tough economic environment. Picture: Sasol Parklands, Peter Okafor, ExpressCapetown

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s