[miningmx.com] – SOUTH African petrochemicals group, Sasol, posted a one quarter increase in full-year earnings despite taking a R5.6bn write-down on its wax expansion project and its Arya polymer operation in Iran which it has since sold.
Headline earnings per share for the year to end-June totalled R52.62, from R42.28 a year earlier. A final cash dividend of R13.30 was declared which takes the group’s the total dividend to R19/share.
The world’s top maker of motor fuels from coal said production volumes of synthetic fuels increased by 4% to 7.4-million tonnes, while revenue was boosted by a 14% weakening of the rand-dollar exchange rate, according to a report by Reuters which was republished in BDLive.
Sasol plans to spend up to $14bn building the first US commercial plant that will turn natural gas into liquid fuels, Reuters said.
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