South Africa’s Sasol expects 45% plummet in H1 HES on strong rand

By bne IntelliNews December 8, 2009
Sasol expects at least a45% fall in H1 HES, hit by the strength of the rand against the dollar, whichhas gained more than 25% against the American currency this year. The companyadded its cash position was strong and it would be able to meet all its debtrequirements but its H1 forecast to end-December could be affected by furthermarket volatility. According to Reuters, CFO Christine Ramon said the company,which said it had acquired exploration rights for two blocs in Mozambique'sSofala province, forecasts capital expenditure for the 2011 financial year ofZAR 17bn.

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