JOHANNESBURG - Global integrated chemicals and energy company Sasol said on Monday its headline earnings for the six months ended December jumped 32 percent to R23.25 per share and it expected an improved operational performance for the year to June.
The company recorded a satisfactory operational and financial performance against the backdrop of a volatile macroeconomic environment and an uncertain geo-political climate which impacted global demand growth, joint president and chief executive officer Bongani Nqwababa said.
"Our production and sales performance was mixed with largely lower than expected production in the first half of the financial year, mainly as a result of the longer than planned total shutdown at our Secunda Synfuels Operations," he said.
"However, our operational performance was enhanced by management interventions in previous periods resulting in improved performances at Natref and Sasol Mining. Post the shutdowns, we are pleased to see steady progress across our value chains."
Sasol acknowledged the disappointing cost and schedule overrun of its Lake Charles Chemicals Project, which it said was impacted by several challenges in the fourth quarter of the previous calendar year.