By Ian Walker

Sasol Ltd. on Tuesday reported a 31% rise in revenue for the first half of fiscal 2022 as it benefited from a favorable macroeconomic environment, with higher crude oil prices, refining margins and chemicals prices together with increased demand following the easing of Covid-19 lockdown restrictions.

The South African chemicals-and-energy group generated revenue for the half year ended Dec. 31 of $4.86 billion compared with $3.70 billion for the same period last year.

The company said it expects production from its Secunda operations to remain constrained until mining productivity rates increase and coal stockpiles are restored to targeted threshold requirements.

Coal stockpile levels for the end of February have been revised to 1.0 million to 1.1 million metric tons, the company said.

Mining productivity has been maintained at 950 to 1,040 tons per continuous miner per shift and Secunda Operations production volumes are forecast at 6.7 million to 6.8 million tons for the year.

Sasol said chemicals sales volumes for the year are expected to be 4%-8% lower than for fiscal 2021.


Write to Ian Walker at ian.walker@wsj.com


(END) Dow Jones Newswires

01-25-22 0621ET