JOHANNESBURG – South African Petrochemicals group Sasol expects full-year profit to drop as much as 11 percent on the back of employee share-based payment expenses and other one-off items, the firm said on Friday.
Sasol said core headline earnings per share (HEPS) for the year ended June. 30, 2018 are expected to decrease by 46 cents to 4.30 rand ($0.3190) from 38.47 rand in the same period the previous year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to increase by 6 percent to 16 percent.
“The difference between core HEPS and EBITDA in the current year is largely due to depreciation of approximately 16 billion rand and employee share-based payment expenses of 1.5 billion rand due to the marked improvement of the Sasol share price at the end of the financial year,” the firm said in a statement.
($1 = 13.4793 rand)(Reuters)
