Sasol profits up 27% for year

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Nadine Mather and Chloë Loubser

Sasol's profits have risen by 27% for the year, boosted by cost cuts, higher oil and product prices and a rise in volumes at its synthetic fuel operation according to Business Report.

Headline earnings per share rose to R33,85. Sasol says that higher global commodity prices have supported the company's health margins. Turnover for the company rose to R142,4-billion.

Business Day says that the cash generated from operations by Sasol jumped by 41% to R38,6-billion. It quotes Sasol's chief executive David Constable as saying that the company had made significant strides in pursuing responsible growth having acquired two shale gas assets in Canada and is making progress in other gas-to-liquids opportunities.