By Joe Hoppe

Sasol Ltd. said Tuesday that it expects to report a mixed performance for the first half of fiscal 2023, as improved prices, refining margins and a beneficial foreign exchange rate were offset by weaker global growth, depressed chemical prices and higher costs.

The South African chemicals and energy group said its South African operations also experienced several operational challenges, notably in mining, where coal productivity and quality were below plans. This was further exacerbated by supply chain constraints.

It expects adjusted earnings before interest, tax, depreciation and amortization for the half year ended Dec. 31 to be flat compared with a year earlier at 31.80 billion South African rand ($1.80 billion).

Earnings per share are expected to be between ZAR21.55 and ZAR23.98 compared with ZAR23.98 a year before, while headline EPS is expected to be between ZAR29.84 and ZAR31.36, significantly improving from ZAR15.21 a year earlier.

Core headline EPS, another of the company's preferred metrics, is expected to be between ZAR22.97 and ZAR25.23 compared with ZAR22.52.

Sasol will report its first-half results on Feb. 21.


Write to Joe Hoppe at joseph.hoppe@wsj.com


(END) Dow Jones Newswires

02-07-23 0115ET