A busy week on the results front kicks off on Monday with Sasol, AngloGold, Workforce and Erin Energy all due to report. Sasol expects to report on Monday its headline earnings per share (HEPS) for the year to end-June fell by up to 26%, it warned in a trading statement on July 20. Basic earnings — which will include a R3.7bn partial impairment of Sasol’s Chlor Vinyls business, a R3bn expense for its Khanyisa empowerment scheme, a R2.8bn further impairment of its Canadian shale gas investment, and a R1.2bn partial impairment of its Mozambican gas joint-venture — will fall by up to 62%. The coal-to-oil producer said a 28% increase in the average Brent crude price to $75 a barrel during its 2018 financial year was reduced in rand terms to a 20% increase to R818 a barrel. "The spot rand per barrel oil price is now ranging between R950 and R1,050 per barrel," Sasol said in July. The benefit of higher oil prices was mitigated by lower sales volumes due to production glitches and weak dem...
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