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Sasol forecasts stronger first-half profit on higher oil prices

Nov 21 2018 13:41
Vernon Wessels, Bloomberg

South African energy and chemicals company Sasol [JSE:SOL] has said it expects to report strong first-half earnings, boosted by higher oil prices and a weaker rand.

Earnings per share before one-time items in the six months through December will jump 12% to 29%, Johannesburg-based Sasol said in a statement on Wednesday.

"Our underlying cash flow performance and earnings are expected to be much stronger than the period ended December 31 2017," it said, adding that a "satisfactory performance of its global assets" also lifted earnings.

A detailed report will be released on January 24.

At 11:17 Sasol's share price was trading 1.74% lower at R430.14.

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sasol  |  companies  |  industrial
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