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Sasol Forecasts Stronger First-Half Profit on Higher Oil Prices

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.

To contact the reporter on this story: Vernon Wessels in Johannesburg at vwessels@bloomberg.net

To contact the editor responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net

©2018 Bloomberg L.P.