Sasol shares slumps on warning of earnings hit from Lake Charles
Lower oil prices and higher finance charges mean interim headline earnings per share to end-December could fall by 79%
31 January 2020 - 08:29
UPDATED 31 January 2020 - 14:50
Chemicals group Sasol’s share price slumped almost 12% on Friday after it warned that its embattled mega-project in the US, Lake Charles, would earn only half what it had previously expected in its 2020 year.
Following a fire and explosion at Lake Charles in January, the project is expected to contribute between $50m (R744m) and $100m to earnings before interest, taxation, depreciation and amortisation (ebitda) in the group’s year to end-June 2020...
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