(Reuters) -South African petrochemicals company Sasol expects a rebound in full-year profitability on the back of higher chemicals prices, tighter cost controls and lower asset writedowns, it said on Tuesday.
Sasol, which produces fuel and chemicals from coal and gas, expects earnings per share between 7 rand and 12 rand ($0.3954-$0.6779) for the year to June 30, swinging from a loss of 69.94 rand per share the previous year.
The company’s trading update said it had recorded significantly lower impairments of 20.7 billion rand during the year, against 74.9 billion rand previously.
Asset writedowns in the 2025 financial year relate to its Secunda and Sasolburg liquid fuels refinery operations, its Mozambique gas production sharing agreement and exploration project as well as the company’s Italian chemicals business. The bulk of Sasol’s impairments the previous year related to its U.S chemicals operations, hit by low prices and weak demand.
Sasol releases financial results on August 25.
($1 = 17.7018 rand)
(Reporting by Nelson BanyaEditing by David Goodman)
