Bloomberg News

Sasol Says Annual Profit Rose as Much as 32% on Price Gains

July 29, 2011

(Updates with company comment from second paragraph.)

July 29 (Bloomberg) -- Sasol Ltd., South Africa’s biggest fuel company, said earnings excluding one-time items advanced as much as 32 percent in the year through June.

Profitability improved after operational efficiencies increased, costs were contained and fuel prices rose, the Johannesburg-based company said today in a statement.

“Robust global commodity prices have countered the impact of the strong rand,” it said.

The profit gain is provisional, and meets analyst estimates. Sasol earned 26.44 rand ($3.91) a share a year earlier and is expected to report adjusted earnings per share of 34.99 rand when it releases annual results Sept. 12, according to the median estimate of 14 analysts surveyed by Bloomberg.

Nine of the 14 analysts recommend buying the stock.

--Editors: Amanda Jordan, John Viljoen

To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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