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.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335