January 31, 2020 / 5:51 AM / 17 days ago

S.Africa's Sasol sees lower HY earnings as unit fire weighs

Jan 31 (Reuters) - South African petrochemicals group Sasol said on Friday it expects lower half-year headline earnings per share (HEPS) and cut its outlook on earnings from its Lake Charles Chemicals project after a fire at the unit earlier this month.

HEPS is the main profit measure in South Africa and strips out certain one-off items.

The company said it expects core earnings contribution from the Lake Charles project to come in between $50 million and $100 million for the financial year 2020 following an explosion and a fire at the low-density polyethylene unit in Louisiana, United States on January 24.

Sasol expects HEPS to be between 4.79 rand and 7.11 rand, for the six months ended Dec 31, compared with HEPS of 23.25 rand ($1.62) last year. ($1 = 14.3325 rand) (Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips)

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