Strong quarter for Sasol

Article Excerpt

SASOL LTD. (ADR) $52.96 (New York symbol SSL; TSINetwork Rating: Extra Risk) (082- 883-9697; www.sasol.com; ADRs outstanding: 649.9 million; Market cap: $36.6 billion; Dividend yield: 2.8%) is the world’s largest producer of fuel from coal at its facility in Secunda, South Africa. It also makes synthetic fuels from natural gas at plants in Qatar and Nigeria. In addition, Sasol has substantial chemical production interests and produces oil and gas in Africa. It’s also South Africa’s thirdlargest coal producer. In Sasol’s 2014 fiscal first half, which ended December 31, 2013, its revenue rose 23.1%, to 98.3 billion South African rand (1 rand = $0.10 U.S.) from 79.9 billion rand in the first half of fiscal 2013. Earnings per ADR rose 25.7%, to 30.19 rand from 24.01 rand. Oil prices were relatively flat, and chemical prices were higher. The U.S. dollar also rose against the South African rand, which increased the value of Sasol’s sales outside South Africa. Sasol ADRs are a..