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Johannesburg - Sasol [JSE:SOL] on Monday posted a 22% rise in first-half profit, boosted by cost cuts and higher oil and product prices, and said it expects better full-year operational performance.
Sasol, the world's top maker of motor oil from coal, said headline earnings per share for the six months to end-December rose 22% to R12.97.
eadline EPS is the main profit gauge in South Africa and exclude certain one-time items. First-half sales rose to R67.2bn from R58.1bn in the same period a year earlier.
Sasol declared an interim dividend of R3.10 per share.
The petrochemicals group said it expects operational performance to improve in the full year, compared with the previous year, although macro-economic conditions remain uncertain.
Full-year production volumes at its Synfuels unit are expected to be marginally lower due to a major planned outage undertaken in September last year.
Sasol is investing heavily to build up its portfolio, especially by expanding its shale gas interests. The company's total capital and acquisition expenditure for 2011 is estimated at R23bn.
Shares in the company are up 11% so far this year, compared with a 1.9% rise in the JSE's Top-40 index of blue chips.
Sasol, the world's top maker of motor oil from coal, said headline earnings per share for the six months to end-December rose 22% to R12.97.
eadline EPS is the main profit gauge in South Africa and exclude certain one-time items. First-half sales rose to R67.2bn from R58.1bn in the same period a year earlier.
Sasol declared an interim dividend of R3.10 per share.
The petrochemicals group said it expects operational performance to improve in the full year, compared with the previous year, although macro-economic conditions remain uncertain.
Full-year production volumes at its Synfuels unit are expected to be marginally lower due to a major planned outage undertaken in September last year.
Sasol is investing heavily to build up its portfolio, especially by expanding its shale gas interests. The company's total capital and acquisition expenditure for 2011 is estimated at R23bn.
Shares in the company are up 11% so far this year, compared with a 1.9% rise in the JSE's Top-40 index of blue chips.
