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Stronger rand knocks Sasol's profit

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Johannesburg – Sasol’s [JSE:SOL] profitability has been negatively impacted by a stronger rand, prolonged strike action in Secunda and the reversal of a provision.

This is according to the group’s interim financial results for the six months to end-December 2016, released on Monday. The chemicals and energy group’s operating profit is down 8% to R13.7bn compared to the previous period.

Headline earnings per share decreased 38% to R15.12, and earnings per share lifted 19% to R14.21.

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