Sasol shares surge nearly 12% after strong first-quarter update

Fuels-from-coal giant first quarter update boosted by strategic announcements to core businesses

- EDWARD WEST

SASOL became the biggest mover on the JSE Thursday after a first quarter update showed it was making good progress on delivering its Capital Markets Day plans to strengthen the foundation business amid global macroeconomic instability, global tariff and geopolitical tensions.

The share price was trading 11.99% higher at R107.37 in the morning, a price that has risen sharply since as low as R53.01 in April 2025, before the fuels-from-coal and chemicals group announced strategies to revive its core businesses.

"Performance across all our business segments remains within market guidance, and we are making good progress towards delivering on our 2026 financial year financial targets," Sasol's directors said in the update.

In the Southern African business, the ramp-up of the destoning plant was progressing to plan, resulting in average sinks for the quarter to September 30, 2025, reducing below 14%, which enabled the phased startup of previously closed low-quality coal sections and increased coal production through the quarter.