Chemicals giant Sasol’s headline earnings per share plummeted 74% to R5.94, for the last half of 2019.
This was due to the weaker oil price - and the Lake Charles Chemicals Project.
You could buy Sasol today at the same price as you could get it in 2006.
We are seeing the turning point. We've got 80 per cent of the Lake Charles chemical complex now operational in terms of its capacity. We are seeing the last units that we are busy completing; they are in 70 to 90 per cent plus completion. We're in handover of many of those unit's systems. We're getting to the end of that road.— Fleetwood Grobler, President & CEO - Sasol
I'm looking forward to having the full complex 100 per cent operational by the end of this financial year. Barring the LDP unit which we had the incident at - we believe that will be up and running in the latter part of this year too.— Fleetwood Grobler, President & CEO - Sasol
JSE dominated by Sasol’s shocking numbers. Half year numbers reveal massive decline of 74% in headline earnings. Share down near 8% to trade below R200 a share. This takes us back to 2005/6 levels. Market got this one horribly wrong.— David Shapiro (@davidshapiro61) February 24, 2020
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