Sasol shares rise 2.60% premarket after reporting expected earnings rebound and lower asset writedowns.

Sasol Limited rose 2.60% in premarket trading, with the company expecting a rebound in full-year profitability due to higher chemicals prices, tighter cost controls, and lower asset writedowns. Sasol, which produces fuel and chemicals from coal and gas, anticipates earnings per share between 7 rand and 12 rand for the year to June 30, a significant improvement from a loss of 69.94 rand per share the previous year. The company also reported significantly lower impairments of 20.7 billion rand during the year, compared to 74.9 billion rand previously.