COMPANY NEWS IN BRIEF
Sasol declares dividend amid mixed results
Despite a mixed set of results for the six months to end December 2022, in which oil and refining tailwinds were offset by lower volumes and higher feedstock costs, Sasol has declared an interim cash dividend of R7 per share.
The synthetic fuels and chemicals producer on Tuesday reported that headline earnings per share increased by more than 100% to R30.90 per share compared to R15.21 in the prior period. Earnings before interest and tax (Ebit) of R24.2 billion was is in line with the prior reporting period, mainly due to a strong pricing environment which was offset by lower volumes and increasing input cost pressures, with declining demand for chemicals globally.
During the period under review the average rand per barrel price of Brent crude oil increased by 43% and the average chemical sales basket price increased by 3%.
The impact from the global weaker economic growth, disrupted supply chains, depressed chemical prices and the resultant higher input costs impacted the Sasol's chemicals business negatively. Performance of the group's South African value chain was muted given a scheduled shutdown at Secunda and operational variability experienced, mainly due to lower productivity and coal quality in its mining operations.
"We navigated several challenges during the period, including safety and operational stoppages at our mining operations, power supply interruptions which also impacted our suppliers and customers, weaker global economic growth, disrupted supply chains and higher feedstock and energy costs.-Fin24
Motus reports double-digit climb in profits
JSE-listed automotive group Motus has raised its interim dividend by almost double digits, boosted by a partial easing of recent challenges regarding vehicle supply, and is confident that its latest acquisitions will help continue its profit growth.
Revenue rose 14% to R51.2 billion in the group's half-year to end-December, it said in results on Tuesday, with profit rising 10% to R1.55 billion. The company benefited from improved availability of vehicles, following pressure on supply as a result of Covid-19 disruptions and a semiconductor shortage. Motus, valued at R22.57 billion on the JSE, raised its interim dividend by 9% to R3, representing about a R530 million payout.
Consumer resilience and continued willingness of businesses to invest also helped with demand, Motus said, with industry statistics showing that SA retailed 275 521 vehicles in the six months to end-December, up 16.3% year-on-year. Motus said its market share was about 22.5%.
Motus employs just under 20 000 people globally, and while it also operates in markets including the UK and Australia, it generated more than three quarters of its operating profit in SA in its half year. Along with owning vehicle dealerships - 357 in SA - the group operates through rental brands Europcar and Tempest, while providing after-market parts, as well as services including fines management, licensing and registration services.-Fin24
Despite a mixed set of results for the six months to end December 2022, in which oil and refining tailwinds were offset by lower volumes and higher feedstock costs, Sasol has declared an interim cash dividend of R7 per share.
The synthetic fuels and chemicals producer on Tuesday reported that headline earnings per share increased by more than 100% to R30.90 per share compared to R15.21 in the prior period. Earnings before interest and tax (Ebit) of R24.2 billion was is in line with the prior reporting period, mainly due to a strong pricing environment which was offset by lower volumes and increasing input cost pressures, with declining demand for chemicals globally.
During the period under review the average rand per barrel price of Brent crude oil increased by 43% and the average chemical sales basket price increased by 3%.
The impact from the global weaker economic growth, disrupted supply chains, depressed chemical prices and the resultant higher input costs impacted the Sasol's chemicals business negatively. Performance of the group's South African value chain was muted given a scheduled shutdown at Secunda and operational variability experienced, mainly due to lower productivity and coal quality in its mining operations.
"We navigated several challenges during the period, including safety and operational stoppages at our mining operations, power supply interruptions which also impacted our suppliers and customers, weaker global economic growth, disrupted supply chains and higher feedstock and energy costs.-Fin24
Motus reports double-digit climb in profits
JSE-listed automotive group Motus has raised its interim dividend by almost double digits, boosted by a partial easing of recent challenges regarding vehicle supply, and is confident that its latest acquisitions will help continue its profit growth.
Revenue rose 14% to R51.2 billion in the group's half-year to end-December, it said in results on Tuesday, with profit rising 10% to R1.55 billion. The company benefited from improved availability of vehicles, following pressure on supply as a result of Covid-19 disruptions and a semiconductor shortage. Motus, valued at R22.57 billion on the JSE, raised its interim dividend by 9% to R3, representing about a R530 million payout.
Consumer resilience and continued willingness of businesses to invest also helped with demand, Motus said, with industry statistics showing that SA retailed 275 521 vehicles in the six months to end-December, up 16.3% year-on-year. Motus said its market share was about 22.5%.
Motus employs just under 20 000 people globally, and while it also operates in markets including the UK and Australia, it generated more than three quarters of its operating profit in SA in its half year. Along with owning vehicle dealerships - 357 in SA - the group operates through rental brands Europcar and Tempest, while providing after-market parts, as well as services including fines management, licensing and registration services.-Fin24
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