Sasol Posts Loss Before Interest And Tax In FY24; Turnover Down 5%

(RTTNews) - Sasol (SSL) posted a fiscal 2024 loss before interest and tax of R27.3 billion compared to profit before interest and tax of R21.5 billion in the prior year. The company said the decline was mainly due to increased asset impairments, lower earnings before interest, tax, depreciation and amortisation, translation losses and reduced derivative gains. Basic loss per share was R69.94 compared to profit of R14.00. Headline profit declined 66% to R11.5 billion. Headline earnings per share was R18.19 compared to R53.75.

Sasol said its financial results for the year ended 30 June 2024 were negatively impacted by challenging market conditions, with continued pressure from constrained margins and depressed chemicals prices resulting in turnover of R275.1 billion, down 5%.

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