Sasol, when will dividends return? – analysis of earnings guidance
Oil and chemical giant Sasol released a highly anticipated trading statement for its half-year to end December.
Oil and chemical giant Sasol released a highly anticipated trading statement for its half-year to end December.
The darling of the local bourse over the last twelve to eighteen months, Sasol released its results for its FY2021.
Sasol delivered a strong set of results for the year ended 30 June 2021. The company’s EBIT of R16,6 billion increased by more than 100% compared to the prior year.
Omnia announced the successful conclusion of the fully underwritten renounceable rights offer of 100 million new ordinary Omnia shares at a subscription price of R20 per rights offer share.
Sasol said capital costs at its Lake Charles chemicals project in Louisiana have increased once again, to as much as $11.8bn, and the startup will be delayed by as many as five months.
Sasol said full-year profit probably fell as the world’s biggest producer of fuel from coal takes a R16 billion depreciation charge and accounts for expenses on share-based payments.
South Africa’s energy multinational Sasol is changing direction – abandoning future investments in hydrocarbons in deferment to its new focus on non-commoditised chemicals.
Johannesburg-based Sasol says full-year profit fell 17% after a sustained collapse in energy prices resulted in writedowns.
Sasol dropped the most in more than 17 years in Johannesburg trading after saying fiscal full-year profit will drop by as much as 30% following writedowns.
Third Energy was given the go-ahead to frack an existing UK natural gas well, overcoming last-minute protests and reviving a practice not used in Britain for 5 years.