Sasol Profit Plunges on Oil-Price Drop, $483 Million Writedown

Sasol Ltd.’s 7.8 billion-rand ($483 million) writedown in parts of its South African and Mozambican businesses, together with a decline in oil and chemical prices, triggered a drop of as much as 99% in half-year profit.

The South African fuel and chemicals maker expects earnings per share in a range between 0.10 rand and 0.80 rand for the six months ended Dec. 31, compared with 7.22 rand a year earlier, it said in a statement Thursday.