H1-2014: Sasol earnings rise by 26%, commissions ethylene project

09-Apr-14

Sasol Ltd reported a 25% hike in H1-2014 headline earnings, helped by a weaker rand currency and higher chemical prices, as per Reuters. "This achievement was on the back of a strong operational performance from our global businesses, coupled with a 19% weaker average rand/US dollar exchange and improved chemical prices," the company said. Sasol group has successfully commissioned a project in Lake Charles, Louisiana, which is using unique technology to convert ethylene into higher value chemical products used to strengthen plastic for consumer products such as food packaging. The project is currently in start-up and first product was successfully produced. The plant is expected to be fully operational by mid-2014.