https://www.engineeringnews.co.za

Higher volumes, weaker rand lift earnings at Sasol

David Constable

David Constable

Photo by Duane Daws

8th September 2014

By: Terence Creamer

Creamer Media Editor

  

Font size: - +

South African energy and chemicals group Sasol reported a 13% rise in earnings attributable to shareholders to R29.6-billion for the year ended June 30, 2014, despite write-downs of R7.6-billion during the period.

The group, which reported an operating profit of R41.7-billion on revenue of R202.7-billion, attributed the performance to better operational results, the weaker rand and an improvement in chemical prices.

Synfuels production volumes rose to 7.6-million tons, which the JSE-listed group said was the highest output in a decade. The rand:dollar exchange rate was 17% weaker during the period, while the average Brent crude oil price was flat.

CEO David Constable said restructuring efforts undertaken over the past three years had set the scene for a “more efficient, effective and competitive organisation”.

He added that the compounded annual growth rate of headline earnings a share had increased by 21%, and dividends by 18%, over the period. The Sasol board declared a record final dividend of R13.50 a share.

Earnings were negatively impacted by “remeasurement items” of R7.6-billion, which included the R5.3-billion impairment of its Canadian shale-gas assets and the R466-million partial impairment and final loss on disposal of R966-million of its solvents assets in Germany.

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 0.134s - 170pq - 2rq
Subscribe Now