* FY headline EPS up 25 pct to 42.28 rand
* Synfuels output at 7.2 mln tonnes
(Adds details)
JOHANNESBURG, Sept 10 (Reuters) – South African
petrochemicals group Sasol posted a 25 percent rise in
full-year earnings on Monday, boosted by higher crude oil prices
and a weaker rand, and said it expected better operational
performance in the current year.
Sasol, the world’s top maker of motor fuel from coal, said
headline earnings per share rose 25 percent to 42.28 rand, in
line with Sasol’s own guidance of a jump of between 20-30
percent given in August. Headline EPS is the main profit gauge
in South Africa and excludes certain one-time items.
Its earnings were helped by a 17 percent rise in the average
crude oil price, higher prices for its products as well as an 11
percent weaker rand/dollar exchange rate.
A weaker rand is positive for South African exporters as it
lifts profits when overseas earnings are brought home.
Full-year turnover rose to 169.4 billion rand ($20.74
billion) from 142.4 billion rand a year ago.
Output of synthetic fuels was 7.2 million tonnes and the
company said it expected production at that unit to improve to
between 7.2 and 7.4 million tonnes in the current year.
Sasol said it expects crude oil and product prices to remain
volatile in the near term, while the rand will remain one of the
biggest external factors impacting its profitability.
Continued…
