Sasol expects FY earnings to fall as much as 21 percent

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Sasol expects FY earnings to fall as much as 21 percent

3:30 CAT | 25 Jul 2017

Cooling towers of South African petro-chemical company Sasol's synthetic fuel plant in Secunda, north of Johannesburg, are seen in this picture taken March 1,2016.REUTERS/Siphiwe Sibeko

Reuters (File photo) / Cooling towers of South African petro-chemical company Sasol's synthetic fuel plant in Secunda, north of Johannesburg, are seen in this picture taken March 1,2016.

South African petro-chemicals group Sasol said on Tuesday it expected its full-year headline earnings to fall as much as 21 percent, hit by lower oil prices and a stronger rand currency.

Sasol said headline earnings per share for the year to end June are expected to decrease by between 11 percent and 21 percent from 41.40 rand ($3.20) in the prior year.

Headline earnings are the main profit gauge in South Africa which strip out certain one-off items.

Sasol will release its full-year results in September.

($1 = 12.9542 rand)

Source: Reuters