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Sasol expects strong first half results

Cape Town - Petrochemical group Sasol said in a trading update on Tuesday that it expects a 6% increase in profit for the six months ended December 31 2017.

The company expects to yield strong results, strengthened by solid operational performance across most of its value chain.

Normalised sales have reportedly increased by 3% due to increased market demand spurring the chemicals business.

However, due to poor economic conditions in South Africa, results were constrained, which impacted the demand for products and ultimately resulting in poor performance.

The company reported that losses due to delays at a port in SA and the impact of Hurricane Harvey in the US are expected to be recovered during the second half of the financial year.

By early afternoon Sasol's share price was up 0.60% at R441.89.

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