SASOL Reports Net Income of R6.8 billion - Swings To Profit As Shares Surge 39%
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Guest – Walt Bruns - Group Chief Financial Officer (CFO) at Sasol
South African petrochemical firm Sasol swung to an annual profit on the back of higher chemicals prices, tighter cost controls and lower asset writedowns.
The company, which produces fuel and chemicals from coal and gas, posted basic earnings per share of R10.60 for the year ended June 30, compared to a R69.94 loss per share last year.
Sasol also benefited from a R4.3 billion payout from Transnet, after it claimed in a legal suit the state-owned logistics firm had overcharged for oil transportation over several years.
South African petrochemical firm Sasol swung to an annual profit on the back of higher chemicals prices, tighter cost controls and lower asset writedowns.
The company, which produces fuel and chemicals from coal and gas, posted basic earnings per share of R10.60 for the year ended June 30, compared to a R69.94 loss per share last year.
Sasol also benefited from a R4.3 billion payout from Transnet, after it claimed in a legal suit the state-owned logistics firm had overcharged for oil transportation over several years.
