Sasol results delay wipes R8bn off its market value

In yet another shock to investors, Sasol delayed the release of its full-year earnings report by a month to provide time for the completion of a probe into cost overruns and start-up delays at its near-R200bn Lake Charles chemical plant in the US.

In reaction, the Sasol share price tanked as much as 16% on Friday, before recouping most of the losses to close 4.7% lower at R265, wiping off more than R8bn of shareholder equity.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

‘Egos’ behind drop in Old Mutual’s market valueAdvocate Dali Mpofu tells high court that board members 'put egos ahead of fiduciary duty'
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Debt-relief bill hits financial services stocks and retailersShares in financial services groups and retailers fell on Friday morning after the president signed the National Credit Amendment Bill into law 🔒
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Maersk warns trade war could hurt container businessShipping giant Maersk warns trade war could hurt container business
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

PODCAST | Business Day Spotlight: Studies show an added 4%-5% of GDP needed for NHIMike Schüssler discusses the results and implications of the BankservAfrica economic transactions index
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Maersk warns trade war could hurt container businessShipping company's second-quarter results beat profit expectations
Fuente: BDliveSA - 🏆 12. / 63 Leer más »