A raw state - Sasol
In their previous note on Sasol (“What a gas”) Ingham Analytics said they has factored in breakeven this year for Lake Charles Chemicals Project and doubted Sasol’s guidance that a profit would be made. Now, after only a few weeks, Sasol are guiding to a loss of the same magnitude as the projected profits – a 200% negative differential. Ingham Analytics say the latest excuse rubs rather raw. This comes at a time when Sasol need to keep bankers on side. What are the prospects for earnings now? Can Sasol make savings, what about the feasibility of a gigantic rights issue? Do you buy the stock or not?
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