Sasol’s plant in Secunda. Picture: SOWETAN
Sasol’s plant in Secunda. Picture: SOWETAN

SASOL expects its headline earnings per share (HEPS) for the six months ended December 31 2015 to decrease by between 23% and 28%, about R7.36 to R8.96 per share, compared to year-earlier period, the company said in a trading statement on Thursday.

The first half of the 2016 financial year was characterised by a continued strong business performance across most of the value chain, Sasol said.

The business performance was, however, negatively influenced by "challenging and highly volatile" global markets, marked by a steep decline in global oil and commodity chemical prices, partly offset by a weaker rand exchange rate, the company said.

At 4.05pm Sasol’s shares were trading at R429.75, up 5.79% from R406.24 previously. At the same time the price of Brent crude was 5.43% higher at $34.64 a barrel, underpinning the counter.