JOHANNESBURG - Sasol sees a 95 percent drop in its earnings, pulled down by non-cash adjustments linked to asset impairment.
This includes write-downs on the Secunda refinery and the gas project in Mozambique.
Basic earnings per share decreased by 95 percent to just 38 cents a share.
Earnings attributable to Sasol Limited shareholders were significantly lower than those allocated to minority investors in subsidiaries.
READ | Multi-billion write down as Sasol triggers massive drop in profit
The company’s dividend policy allows for pay-outs only when net debt falls below its set threshold.
With debt still above that level, the board nevertheless declared no interim dividend for the six months ended December.