Feb 21 (Reuters) – Integrated chemical and energy company Sasol Ltd (SOLJ.J) on Tuesday reported a 9% jump in half-year profit as higher oil prices offset the impact of weaker global economic growth, higher costs, power cuts and poor rail logistics.
Sasol’s core headline earnings per share – the company’s preferred measure of its operating performance – was 24.55 rand ($1.36) in the six months to December 2022, compared to 22.52 rand in the corresponding six-month period a year earlier.
The world’s biggest producer of fuel products and chemicals from coal and gas said its production volumes declined during the six months due to lower productivity and poor coal quality from its mining operations.
“The impact from the global weaker economic growth, disrupted supply chains, depressed chemical prices and the resultant higher input costs impacted the chemicals business negatively,” Sasol said in a statement.
The company declared an interim dividend of 7 rand per share.
Reporting by Nelson Banya; Editing by Kim Coghill and Tom Hogue
