S Africa’s Sasol H1 chems op profit nearly doubles to $340m

SINGAPORE (ICIS)–Sasol’s chemicals operating profit nearly doubled to South African Rand (R) 3.64bn ($340m) in June-December last year, compared with R1.82bn in the same period in 2012, partly on strong operational performance and improved margins, according to a company statement on 10 March.  

The firm’s chemicals cluster turnover more than doubled to R98.9bn in the half-year period, from R45.7bn in the same period in 2012, the company said in the statement.

“In our European chemical businesses, we continue to optimise our production volumes and margins, in light of the slower than expected tenuous recovery of the European market,” the company said.

“However, our Sasol Olefins and Surfactants business has delivered improved business margins, specifically in the US, while our Sasol Polymers business has performed better than expected,” it added.

Sasol said that the group’s half-year profit attributable to shareholders rose by 4.55% year on year to R12.7bn, with turnover up by 23.1% at R98.3bn.

($1 = R10.73)