Petrochemical company Sasol on Friday said it is expecting as much as a 42% decline in half-year profits on the back of a volatile macroeconomic environment, weak oil and petrochemical prices, unstable product demand and inflation pressures.
The company warned shareholders that its headline earnings per share, a profit measure, is expected to be between R17.90 and R22.22 for the six months ended December 31, down from R30.90 posted a year earlier.
The decline would represent a fall in half-year profits of between 28%-42%.
“Despite some operational improvements in South Africa, persistent underperformance of the state-owned enterprises involved in Sasol's value chain and the weaker global growth outlook continue to impact Sasol's business performance,” the company said in a trading statement.
The company will release its results for the period on February 26.
Business Times
Sasol expects fall in half-year profits
Petrochemical producer says profits could fall 28% to 42% for the six months ended December 31
Image: SEBABATSO MOSAMO
Petrochemical company Sasol on Friday said it is expecting as much as a 42% decline in half-year profits on the back of a volatile macroeconomic environment, weak oil and petrochemical prices, unstable product demand and inflation pressures.
The company warned shareholders that its headline earnings per share, a profit measure, is expected to be between R17.90 and R22.22 for the six months ended December 31, down from R30.90 posted a year earlier.
The decline would represent a fall in half-year profits of between 28%-42%.
“Despite some operational improvements in South Africa, persistent underperformance of the state-owned enterprises involved in Sasol's value chain and the weaker global growth outlook continue to impact Sasol's business performance,” the company said in a trading statement.
The company will release its results for the period on February 26.
Business Times
READ MORE:
New flare-up in Sasol’s cash row with US toxic zone residents
Shareholders show ‘discontent’ over Sasol’s climate plans at AGM
Climate activists pledge to keep hounding Sasol
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos