Sasol anticipates rise in H1 earnings
Petrochemicals giant Sasol expects to deliver a solid set of results for the six months to end December 31, underpinned by higher Brent crude oil and product prices, a weaker average rand exchange rate and good performance from its global asset base.
Sasol on Wednesday said it was likely to report a 12% to 29% year-on-year increase in headline earnings per share (HEPS). It had reported HEPS of R17.67 for the six months ended December 31, 2017.
Earnings per share (EPS) for the period are expected to increase by between 80% and 100% year-on-year. EPS for the prior comparable year were R11.29.
Sasol said its earnings before interest, taxes, depreciation and amortisation was likely to increase by between 10% and 30% year-on-year, largely driven by stronger macroeconomics and core headline earnings per share (CHEPS).
CHEPS are expected to be between 15% and 35% higher than the CHEPS of R18.22 reported for the prior comparable period.
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