SASOL said it would report a loss for the full year after the fuels company booked R55.1 billion ($3 billion) of impairments after tax.
The basic loss per share for the year to June 30 will be in a range of R68.82 to R71.48 compared with profit of R14 a year earlier, the Johannesburg-based company said in a statement Monday.
Sasol wrote down the value of its Chemicals America ethane value-chain cash-generating unit by R45.5 billion net of tax primarily due to external conditions “including prolonged softer market pricing and outlook.” – Bloomberg