Sasol feels the heat of a stronger rand
Petrochemical giant says industrial action at its Secunda operations results in a decrease in mining production and higher costs to ensure supply of coal to synfuels
26 January 2017 - 09:50
Petrochemical giant Sasol expects first-half headline earnings per share (HEPS) to drop by up to 44%, dented by a stronger rand and the effect of industrial action at its Secunda mining operations. In its trading update for the six months to December, the blue-chip company said a stronger rand resulted in translation losses of about R1.3bn compared with translation gains of R2.6bn in the year-earlier period.
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