Sasol share price slumps after warning of earnings hit from Lake Charles
Chemicals group Sasol’s share price slumped almost 12% on Friday after it warned that its embattled mega-project in the US, Lake Charles, would earn only half what it had previously expected in its 2020 year.
Following a fire and explosion at Lake Charles in January, the project is expected to contribute between $50m and $100m to earnings before interest, taxation, depreciation and amortisation in the group’s year to end-June 2020.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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