Sasol First-Half Profit Fell as Much as 44% on Currency, StrikeAlastair Reed
Sasol Ltd., the world’s biggest producer of liquid fuels, said first-half profit declined as much as 44 percent from a year earlier due to currency losses and a strike at its synfuels operation in South Africa.
Profit before one-time items, known as headline earnings, probably decreased by between 8.26 rand and 10.68 rand from 24.28 rand a year earlier, the Johannesburg said in a statement on Thursday. Earnings per share in the six months to Dec. 31 probably increased by 12 percent to 22 percent, Sasol said.
The company saw translation losses of about 1.3 billion rand ($98 million) due to the strengthening of the rand against the dollar, while labor action at its Secunda mining operations resulted in a cost of about 1 billion rand, Sasol said.