Sasol Reports Increased 1Q FY18 Saleable Production

By Dimitrios Kontos Features Dow Jones Newswires

Petrochemical and energy company Sasol Ltd. (SOL.JO) said Thursday that its saleable production for the first quarter of fiscal 2018 increased 22%, compared with the same period a year earlier.

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The South African company said saleable production for the three months ended Sep. 30 was 10 million tons, compared with 8.2 million tons a year earlier.

The company said that it is on track to achieve its mining cost of production target for the fiscal year.

It added that this indicates the business is stabilising and returning to normal operation, following a labour dispute during the previous fiscal year.

Sasol added that production rates, labor productivity and cost efficiency have improved as a result of its new business improvement program.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

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(END) Dow Jones Newswires

October 19, 2017 03:09 ET (07:09 GMT)