Sasol slumps 6% as it slashes dividend, writes down Secunda
Shares in Sasol fell almost 6% on Monday morning after it reported its interim profit fell by more than a third, due amid volatile global economic conditions as well as country-specific issues in South Africa.
Revenue fell about 9% to R136 billion to end-December and earnings about 37% to R9.2 billion, as the company felt pressure from lower energy prices, weaker-than-expected global economic growth, as well as an oversupply of diesel in the SA market.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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