Sasol Sees Earnings Rise on Higher Oil Prices and Fuel Volumes

Sasol's annual earnings have increased by 9% due to higher crude oil prices and stronger fuel sales volumes, according to its latest financial report. The company's headline earnings per share (HEPS) rose to 38.31 rand ($2.38), compared to 35.13 rand in the previous financial year.

The average Brent crude oil price increased by 7% during the reporting period, providing a significant boost to Sasol's income. Higher oil prices also supported its fuel-related operations and helped offset some of the challenges across its broader business.

Sasol has decided not to pay a dividend for the second consecutive year due to its high net debt, which stood at approximately $3.3 billion. The company is focusing on strengthening its balance sheet and managing financial obligations.