WATCH: Sasol rewards shareholders even as profit falls
Petrochemicals group Sasol released its interim results on Monday, reporting a 17% increase in headline earnings per share (HEPS) driven by higher crude oil prices.
Business Day reported that interim revenue grew 3.8% to R88bn, but higher costs results in its after-tax profit declining 17% to R7.7bn.
Earnings per share (EPS), however, were down 21%, largely due to the company scrapping its US gas-to-liquid project, amounting to R1.1bn, and a partial impairment of the Canadian shale gas assets of R2.8bn.
The company has increased its interim dividend by 4% to R5.
Sasol joint-CEO Bongani Nqwababa spoke to Business Day TV about the numbers.
Sasol joint-CEO Bongani Nqwababa talks to Business Day TV about the company’s interim results
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