Petrochemicals group Sasol reported a 15% drop in full-year headline earnings today.
The company says a stronger rand, provision for tax litigation and labour action were chief reasons for the fall.
However, Sasol may take some solace in the fact that its earnings were still higher than what analysts previously forecast.
Looking forward, Sasol may need to reposition itself in a world where electric cars and renewable energies are starting to take root as lower oil prices and uncertainty regarding the rand’s strength remain. It will be interesting to see if the company, which was founded in 1950, can once again adapt.