Sasol's annual earnings increased despite challenges

SASOLBURG - Sasol’s annual earnings leapt on the back of stronger oil and chemicals prices in the year ended in June, although they were offset by some operational challenges. News24 reports the synthetic fuels and chemicals group yesterday said it expects adjusted earnings for the year to increase by between 36% and 56% to between R66 billion and R75.6 billion. Sasol said the result was underpinned by a favourable macroeconomic environment, with higher crude oil prices, refining margins and chemicals prices against a backdrop of heightened geopolitical tensions. These benefits were partly offset by operational challenges in our integrated South African value chains – with notable issues related to coal production -which resulted in lower production. Oil supply issues which have affected production at Sasol's Natref refinery in Sasolburg will only be reflected in the next reporting period.

PHOTO: (Supplied)

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