Sasol does itself no favours by delaying release of its results

Business

Sasol does itself no favours by delaying release of its results

The holdup further increases uncertainty about the underlying value of the company’s share price

Karl Gernetzky

Sasol, whose share price has almost halved since the beginning of May, yet again delayed the release of financial results on Friday. The chemicals giant said it has expanded the scope of a probe into its embattled Lake Charles project in the US.

Results due on September 19 will now be pushed back to no later than end-October, the company said on Friday, a move analysts said further increases uncertainty about the underlying value of the company’s share price.

Sasol’s share price (https://www.sharenet.co.za/v3/quickshare.php?scode=SOL) slipped as much as 5%, but pared losses to close 4.05% lower at R260.53. Since the beginning of May, Sasol’s share price has lost 45%...

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