Sasol scraps dividend as weak rand and operational challenges bite
Surging energy prices offset poor coal availability and volatility in the group's half year to end-December
Chemicals and energy group Sasol has opted to hold onto its interim dividend for its half year to end-December, in which the benefits of surging energy prices and a recovery in demand were offset by operational issues, including poor coal availability in SA.
Buoyant oil prices helped cash generated by operating activities jump 73% to R20.3bn to end-December, Sasol said on Monday, but headline earnings fell almost 20% to R9.5bn, with the group hit by a number of non-cash adjustments...
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