Sasol increases first-half profits by 17%

Picture: Supplied.

Sasol reported a 17% increase in first-half profits on Monday.

The improved results came on the back of higher crude oil prices and increased demand for its speciality chemical products.

Headline earnings per share (HEPS) for the six months ended 31 December 2017 rose to R17.67 from R15.12 in the same period the previous year.

Sasol will settle debt from its black economic empowerment scheme, called Inzalo, of around R4.6 billion in June through existing cash and credit facilities.

The Money Show’s Bruce Whitfield interviewed Sasol co-CEO Stephen Cornell.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

We put hedge instruments in place to mitigate [oil price and currency] risk… We are protected [in terms of the exchange rate]… But no one can call them perfectly.

Stephen Cornell, Sasol

We’re getting bigger on the chemicals side…

Stephen Cornell, Sasol

Our commitment to South Africa has never wavered. We continue to invest...

Stephen Cornell, Sasol

The shale gas revolution [in the US] is the real driver for us.

Stephen Cornell, Sasol

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