Sasol’s headline earnings per share is up by 26% to R30.19 off a record base, with cash generated from operations up 50% thanks to strong group operational performance.
Earnings per share have increased by 4% to R20,88, Sasol said in a statement. Excluding the impact of net once-off remeasurement items amounting to R5.7 billion, earnings attributable to shareholders have increased by 25% compared with the prior year on a similar basis. As a result, the company will pay shareholders a record dividend of 8 rand a share, a 40 percent increase from a year earlier.
Sasol recorded an operating profit, after remeasurement items of R19.4 billion for the period, excluding its own share of profits of equity accounted joint ventures and associates of R2,2 billion, which includes our ORYX GTL plant. This achievement was on the back of a strong operational performance from our global businesses, coupled with a 19% weaker average rand/US dollar exchange rate, as well as a relatively flat average Brent crude oil price and improved chemical prices.
“Looking at the first half of the 2014 financial year, safe, reliable and efficient operations remain at the core of everything we do at Sasol. Coupled with ongoing operations improvements, advancements on our capital projects, and an enhanced group-wide safety focus, we continue to deliver sustainable value for all of our stakeholders,” CEO David E Constable said. “We are moving full steam ahead to go live with our new operating model, which will drive streamlined management structures, cost-effective processes and meaningful savings.”