Sign up for our free daily newsletter


Get the latest news and some fun stuff
in your inbox every day

Sasol trading update

Sasol released a trading statement on Friday that made for "interesting" reading. You can catch the whole thing here: Trading statement for the six months ended 31 December 2014. At face value the trading update looks decent, especially in light of the falling oil prices. In fact, as Sasol points out in the trading update: "profitability was negatively impacted by 19% lower average Brent crude oil prices (average dated Brent was US$89/barrel for the six months ended 31 December 2014 compared to US$109,83 in the prior comparable period)." If you needed reminding, if the average price of Brent was 89 Dollars for the half ended December 31, we are over 20 percent higher from the late January lows right now, yet Brent is still below 60 Dollars a barrel. There are several accounting changes that have led to some write backs, some write downs, a monster reversal of a share based payment expense (of 2.5 billion Rand), many moving parts. Guidance given for the full year will be when the results are released, which is expected to be Monday the 9th of March. 4 weeks today.


Other recommended stocks     Other stories about SOL