Sasol Forecasts Stronger First-Half Profit on Higher Oil Prices

(Bloomberg) -- South African energy and chemicals company Sasol Ltd. said it expected 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 percent to 29 percent, 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 Dec. 31 2017,” it said, adding that a “satisfactory performance of its global assets” also lifted earnings.

A detailed report will be released on Jan. 24.

©2018 Bloomberg L.P.