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.

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