Streaming issues? Report here
Refilwe Moloto 2019 1500 BW Refilwe Moloto 2019 1500 BW
Breakfast with Refilwe Moloto
06:00 - 09:00
volume_up
volume_mute

Up Next: Today with Kieno Kammies
See full line-up
Breakfast with Refilwe Moloto
06:00 - 09:00

Home
arrow_forward
Business

Sasol results boosted by oil price, rand and victory in tax dispute with Sars

25 February 2019 6:55 PM
Tags:
Rand
Sasol Ltd
SASOL
SARS
Oil
Crude oil prices
Oil prices
South African Revenue Service
South African rand
sasol results
sasol earnings
results
oil price
Lake Charles
The Money Show’s Bruce Whitfield interviews Bongani Nqwababa, joint-CEO at Sasol.

It’s totally unacceptable where we are [referring to Lake Charles]… We’ve already started generating revenues… Construction is virtually complete… We’ve learned our lesson…

Bongani Nqwababa, joint-CEO - Sasol

We are where we are [referring to Lake Charles]… We need to focus on getting returns to shareholders…

Bongani Nqwababa, joint-CEO - Sasol

Sasol released results on Monday, saying its headline earnings for the half year to 31 December 2018 rose by 32% to R23.25 a share.

Sasol benefited from a rebound in oil prices for most of 2018, as well as a weaker rand relative to the dollar.

Moves to cut costs during the earlier 3-year decline in the price of oil is paying off.

Its massive US (Lake Charles) investment – which is turning Sasol into a global chemicals giant - is now 94% complete while capital expenditure has reached $10.9 billion (R150.6 billion).

Sasol increased its interim dividend by 18% to 590 cents (ZAR).

The company’s profitability was given a boost by a R1.3 billion tax dispute with the South African Revenue Service (Sars) which went Sasol's way.

The Money Show’s Bruce Whitfield interviewed Bongani Nqwababa, joint-CEO at Sasol.

Nqwababa spoke about his company’s results and the volatile oil price.

Listen to the interview in the audio below.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Sasol results boosted by oil price, rand and victory in tax dispute with Sars


25 February 2019 6:55 PM
Tags:
Rand
Sasol Ltd
SASOL
SARS
Oil
Crude oil prices
Oil prices
South African Revenue Service
South African rand
sasol results
sasol earnings
results
oil price
Lake Charles

Recommended

More from Business

140325Wakaberry.jpg

Famous brands hit by restaurant restrictions

26 May 2020 8:29 PM

Darren Hele, CEO of Famous Brands, tells the Money Show how the food outlets in the franchise have navigated lockdown.

Share this:
Read More arrow_forward

ucook-risottojpg

Ucook launches food fund

26 May 2020 7:32 PM

UCook has launched a Food Fund with FoodForward South Africa, the Philippi Economic Development Initiative and Ladles of Love.

Share this:
Read More arrow_forward

Spaza Shop.jpg

Covid-consumer trends from spaza shops, revealed by sophisticated scanner data

26 May 2020 6:56 PM

Sophisticated scanners reveal what products shoppers are buying when they visit spaza shops.

Share this:
Read More arrow_forward

voyos-cafe-coffee-bags1png

Vuyo's Cafe provides keeps medical staff caffeinated inside Cape Town hospitals

26 May 2020 3:41 PM

The cafes received essential service status continuing to provide Red Cross and Somerset hospital staff's coffee during lockdown.

Share this:
Read More arrow_forward

gatsby-cosy-cornerjpg

It’s clever how Cozy Corner in Wynberg is staying alive - and providing incomes

26 May 2020 1:26 PM

"You can't come inside to place and collect an order," says Yousri Hartley. "Your car, I cannot say that’s not your address!"

Share this:
Read More arrow_forward

Donald Trump Huawei 123rf 123rfbusiness

Is a Huawei device without Google Play worth it? Read this before you buy...

26 May 2020 11:57 AM

Google services such as Gmail and YouTube don't work on Huawei devices, but there are workarounds, says Jan Vermeulen.

Share this:
Read More arrow_forward

general-elections-London-UK-Flag-St Paul's cathedral-123rf

All the documents and permissions you need to travel abroad – and how to apply

26 May 2020 9:23 AM

South Africans may now travel abroad if they meet certain criteria, says Advocate Bongani Bongo (Home Affairs Committee).

Share this:
Read More arrow_forward

Lunch break workplace 123rfbusiness 123rf

Can bosses restrict lunch break movement at this time? Yes they can says expert

26 May 2020 8:48 AM

Labour lawyer Marleen Potgieter says employers are managing a crisis and must ensure sure the health and safety of employees.

Share this:
Read More arrow_forward

download-6png

Why Nando's has been slow opening restaurants for delivery

25 May 2020 8:12 PM

Nando's has said it does not make commercial sense to open all outlets for delivery only.

Share this:
Read More arrow_forward

150112blood.jpg

The head of the blood service had Covid-19 and is now donating plasma

25 May 2020 7:28 PM

The head of the National Blood Service is now part of a blood plasma donation programme.

Share this:
Read More arrow_forward