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Sasol flags up to 11% drop in FY earnings

Sasol said core headline earnings per share for the year ended 30 June, 2018 are expected to decrease by 46 cents to R4.30 ($0.3190) from R38.47 in the same period the previous year.

FILE: Sasol's headquarters in Johannesburg. Picture: AFP

JOHANNESBURG – South African Petrochemicals group Sasol expects full-year profit to drop as much as 11% on the back of employee share-based payment expenses and other one-off items, the firm said on Friday.

Sasol said core headline earnings per share for the year ended 30 June, 2018 are expected to decrease by 46 cents to R4.30 ($0.3190) from R38.47 in the same period the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to increase by 6% to 16%.

“The difference between core HEPS and EBITDA in the current year is largely due to depreciation of approximately R16 billion and employee share-based payment expenses of R1.5 billion due to the marked improvement of the Sasol share price at the end of the financial year,” the firm said in a statement.

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