SSL Sasol Ltd

By Matina Stevis

NAIROBI, Kenya--South African petrochemical and energy giant Sasol Ltd. (SSL) reported a major drop in net profit for the full year ending June 30, in line with expectations.

Sasol on Monday posted a profit of 13.2 billion South African rand ($914.4 million) for full fiscal year, down 55% from the full fiscal year 2015, as the company continued to cut costs and boost production in response to lower crude prices. Headline earnings per share, the preferred profit measure that strips out certain exceptional and one-off items, fell 17% to ZAR41.40, in line with expectations.

Sasol's revenue was down 6.6% at ZAR172.9 billion in the full fiscal year compared to a year ago.

-Write to Matina Stevis at matina.stevis@wsj.com

(END) Dow Jones Newswires

September 12, 2016 01:50 ET (05:50 GMT)

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