Go Back Email this Link to a friend

Sasols 2000 Financial Results

Release Date: 29/08/2000 07:31:26      Code(s): SOL SOLD
SASOL LIMITED
PROFIT STATEMENT AND DECLARATION OF DIVIDEND NO 42
FOR THE YEAR ENDED 25 JUNE 2000
SASOL LIMITED
FIFTY YEARS OF GROWTH
TURNOVER UP 34% TO R25,8 BILLION
OPERATING PROFIT UP 73% TO R6,4 BILLION
DIVIDEND UP 46%
DILUTED HEADLINE EARNINGS UP 79%
COST INCREASES WELL BELOW INFLATION
OVERVIEW
AN EXCEPTIONAL PERFORMANCE IN FINANCIAL 2000 RESULTED IN RECORD PROFIT AT ALL
LEVELS.
TURNOVER REACHED R25762 MILLION (+34%), OPERATING PROFIT R6413 MILLION (+73%)
AND EARNINGS ATTRIBUTABLE TO SHAREHOLDERS R4003 MILLION (+61%). DILUTED
HEADLINE EARNINGS INCREASED BY 79% FROM 377 CENTS PER SHARE TO 674 CENTS PER
SHARE. TURNOVER PASSED THE  R25 BILLION MARK FOR THE FIRST TIME.
THE FACTORS WHICH PLAYED A SIGNIFICANT ROLE IN THE IMPROVEMENT IN PROFITS WERE
THE GROWTH IN SALES VOLUMES FROM NEW PROJECTS, THE BENEFITS ACCRUING FROM COST
REDUCTION AND EFFICIENCY IMPROVEMENT PROGRAMMES, THE IMPROVEMENT IN CRUDE OIL
AND CHEMICAL PRICES AND THE EFFECT OF THE WEAKER RAND/US DOLLAR EXCHANGE RATE.
                   THE AVERAGE RAND/US DOLLAR EXCHANGE RATE WEAKENED FROM
R6,03= US$1 LAST YEAR TO R6,28=US$1 WHILE THE AVERAGE EFFECTIVE DERIVED CRUDE
OIL PRICE INCREASED FROM US$14,70 TO US$19,70 PER BARREL.
FINANCIAL RESULTS
TURNOVER INCREASED BY 34% WHILE OPERATING PROFIT INCREASED BY 73% AS A RESULT
OF IMPROVED MARGINS WHERE COST OPTIMISATION AND IMPROVED EFFICIENCIES PLAYED A
SIGNIFICANT ROLE. THE INCREASE IN THE GEARING OF THE GROUP RESULTED IN AN
INCREASE IN NET INTEREST PAID TO R184 MILLION COMPARED TO NET INTEREST EARNED
OF R75 MILLION.
DILUTED HEADLINE EARNINGS PER SHARE INCREASED BY 79% WHILE DILUTED EARNINGS PER
SHARE INCREASED BY 60%. A R153 MILLION WRITE-DOWN IN VALUE OF CERTAIN
OIL-PRODUCING ASSETS, R92 MILLION GOODWILL WRITTEN OFF AND THE SCRAPPING OF
OBSOLETE PLANT AND EQUIPMENT TO THE VALUE OF R143 MILLION ACCOUNTS FOR THE
DIFFERENCE.
THE RESTRUCTURING OF SASOL'S BALANCE SHEET COMMENCED DURING THE PERIOD UNDER
REVIEW. A R2 BILLION MEDIUM-TERM NOTE PROGRAMME WAS LAUNCHED IN JUNE AND A
FIRST TRANCHE OF R900 MILLION WAS RAISED AFTER YEAR-END. SHAREHOLDERS APPROVED
THE PURCHASE OF UP TO 10% OF SASOL'S ISSUED CAPITAL AND BY YEAR-END 5% OF THE
LISTED SHARES HAD BEEN ACQUIRED AT A TOTAL COST OF R1 290 MILLION. THE COST OF
PURCHASING THESE SHARES HAS BEEN DEDUCTED FROM SHAREHOLDERS' INTEREST. THERE IS
NO INTENTION TO TRADE IN THESE SHARES AND NO DIVIDENDS WILL BE PAID OUTSIDE THE
GROUP IN RESPECT THEREOF.
THE GROUP'S FUNDING REQUIREMENTS WERE MET FROM INTERNALLY GENERATED RESOURCES
AND A MODEST INCREASE IN DEBT. TOTAL BORROWINGS INCREASED TO R1500 MILLION. THE
BALANCE SHEET PROVIDES SIGNIFICANT CAPACITY FOR THE FUNDING OF FUTURE GROWTH
WITH GEARING AT 6% INCLUSIVE OF CASH AND 9% EXCLUSIVE OF CASH.
A FINAL DIVIDEND OF 137 CENTS PER SHARE HAS BEEN DECLARED. THIS BRINGS THE
TOTAL DIVIDEND DECLARED TO 220 CENTS, AN INCREASE OF 46%.
THE TOTAL DIVIDEND OF 220 CENTS PER SHARE EXCEEDS THE INTEREST PAYABLE PER
DEBENTURE OF 157,25 CENTS, TRIGGERING THE CONVERSION OF THE DEBENTURES INTO
SHARES. THE DEBENTURES WILL CONVERT INTO ORDINARY SHARES ON THE BASIS OF ONE
ORDINARY SHARE PER DEBENTURE ON 24 NOVEMBER 2000 WITH RETROSPECTIVE EFFECT FROM
26 JUNE 2000. NO INTEREST ON DEBENTURES SHALL ACCRUE IN RESPECT OF THE PERIOD
COMMENCING 26 JUNE 2000 TO CONVERSION AND NO DIVIDEND ON SHARES ARISING FROM
THE CONVERSION SHALL ACCRUE OR BE PAID IN RESPECT OF THE YEAR ENDED 25 JUNE
2000. A CIRCULAR ON THE MECHANICS OF THE CONVERSION WILL BE SENT TO DEBENTURE
HOLDERS BEFORE THE END OF SEPTEMBER 2000.
SASOL SYNTHETIC FUELS (SSF)
OPERATING PROFIT INCREASED BY 126% TO R3 987 MILLION ON THE BACK OF RECORD
PRODUCTION (7,1 MILLION TONS), STABLE OPERATIONS, HIGHER OIL PRICES, A WEAKER
RAND/US DOLLAR EXCHANGE RATE, AND REDUCED COSTS PER TON. SOUND COSTS MANAGEMENT
HAS CONTRIBUTED TO SSF'S ABILITY OVER THE LAST FIVE YEARS TO INCREASE ANNUAL
PROFIT (IN 1996 TERMS) BY MORE THAN R1 BILLION. THE VULAMEHLO TRANSFORMATION
INITIATIVE, LAUNCHED IN 1995, WAS COMPLETED SUCCESSFULLY DURING THE YEAR. SSF
HAS ESTABLISHED A STRONG PLATFORM UPON WHICH TO PURSUE TARGETS SET FOR ONGOING
COST REDUCTION, RETURN ON NEW INVESTMENTS, TECHNOLOGY DEVELOPMENT, PRODUCTIVITY
IMPROVEMENT, AND SAFETY HEALTH AND ENVIRONMENTAL MANAGEMENT.
EXCELLENT PLANT STABILITY AND INTEGRITY WAS MAINTAINED THROUGHOUT THE YEAR
NOTWITHSTANDING AN EXPLOSION IN A COLD-BOX UNIT IN ONE OF THE    13
AIR-SEPARATION FACILITIES. THE R249 MILLION, PHASE-TWO MEDIUM-TERM GAS
EXPANSION (MTGE II) PROJECT WAS SUCCESSFULLY COMMISSIONED.
SSF WILL INSTALL A NINTH SASOL ADVANCE SYNTHOL (SAS) REACTOR TO FURTHER ENHANCE
ITS PRODUCTION BASE. WORKING CLOSELY WITH SASOL OIL,   SSF LAUNCHED UNLEADED
PETROL WITH A HIGHER OCTANE RATING OF RON 93, UP FROM RON 91. THE TWO COMPANIES
ALSO SUCCESSFULLY REINTRODUCED ALCOHOL-CONTAINING PETROL IN AUGUST 1999 IN
CO-OPERATION WITH SOUTH AFRICA'S OIL COMPANIES AND AUTOMOTIVE MANUFACTURERS.
SASOL MINING
THE OPERATING PROFIT OF R317 MILLION IS R34 MILLION (12%) HIGHER THAN THAT OF
THE PREVIOUS FINANCIAL YEAR. THIS WAS ATTAINED DESPITE A 13% DROP IN
INTERNATIONAL COAL EXPORT PRICES. THE MINING DIVISION ACHIEVED AMBITIOUS
TARGETS LINKED TO A FIVE-YEAR RENEWAL PROJECT. THE PRIMARY TARGETS OF THIS
PROJECT INCLUDE IMPROVED COAL QUALITIES AND YIELDS, STRICTER COST CONTAINMENT
AND HIGHER PRODUCTIVITY. THE MINING TEAMS INCREASED THEIR AVERAGE PER-CAPITA
PRODUCTIVITY BY 10% AND THEIR AVERAGE PRODUCTION RATE PER CONTINUOUS-MINER
SHIFT BY 26%. COST INCREASES WERE CONTAINED TO 3%.
TOTAL COAL SALES INCREASED BY 2% TO 50 MILLION TONS. FORTUNATELY COAL EXPORT
PRICES ROSE SOMEWHAT IN THE LATTER PART OF THE YEAR FROM VERY DEPRESSED LEVELS.
FURTHER BENEFITS FROM THE RENEWAL PROGRAMME TOGETHER WITH HIGHER RETURNS FROM
THE EXPORT BUSINESS ARE EXPECTED TO RESULT IN SIGNIFICANT PROFIT GROWTH.
SASOL OIL
SASOL OIL'S OPERATING PROFIT INCREASED BY 21% TO R784 MILLION.  THIS IS MAINLY
THE RESULT OF AN INCREASED RAND REFINING MARGIN OF 15% (HIGHER PRODUCT PRICES
AND WEAKER RAND) AND STRICT COST CONTROL.  VOLUME GROWTH IN THE GAS AND RETAIL
MARKET WAS UNDER PRESSURE MAINLY DUE TO THE EFFECT OF HIGHER CRUDE OIL PRICES
AND THE LACKLUSTRE GROWTH IN THE ECONOMY.  IT IS EXPECTED THAT PRODUCT AND
CRUDE OIL PRICES WILL DECLINE AND REFINING MARGINS WOULD AT BEST BE THE SAME AS
LAST YEAR.  AS PART OF THE STRATEGIC DIRECTION FOR ITS LIQUID FUELS, SASOL
COMMENCED DISCUSSIONS TO SELL THE BULK OF ITS VOLUMES TO ONE OR MORE OF THE OIL
COMPANIES.  IN THIS REGARD, THE SASOL PRODUCTION FACILITIES ARE WELL PLACED IN
THE HIGH DEMAND INLAND REGION AND IT IS EXPECTED THAT NEGOTIATIONS SHOULD BE
CONCLUDED BEFORE THE CURRENT AGREEMENT TERMINATES IN DECEMBER 2003.  SASOL IS
ALSO ACTIVELY PROGRESSING A STRATEGY TO POSITION ITSELF TO CONTROL SUFFICIENT
DIRECT MARKETING INFRASTRUCTURE TO ENABLE IT TO AT LEAST REPLACE THE CURRENT
PETROL VOLUMES BEING SOLD THROUGH THE BLUE PUMPS ON THE OIL COMPANY FORECOURTS.
 THIS WILL REQUIRE BETWEEN 300 AND 500 SERVICE STATIONS.
SASOL CHEMICAL INDUSTRIES (SCI)
SCI'S OPERATING PROFIT INCREASED BY 50% TO R1 576 MILLION. SCI REMAINS ON TRACK
TO GENERATE AT LEAST 50% OF THE GROUP'S INCOME, NOTWITHSTANDING THE GROWTH
POTENTIAL OF OTHER DIVISIONS. GROWTH IS ATTRIBUTABLE TO THE ACQUISITION OF
POLIFIN, ORGANIC GROWTH OF ESTABLISHED PRODUCTS, THE LAUNCH OF NEW PRODUCTS,
THE STRONG RECOVERY OF MOST CHEMICAL PRICES AND INITIATIVES TO IMPROVE
EFFICIENCY AND CONTAIN COSTS. ALL SCI BUSINESSES ACHIEVED PLEASING PROFIT
GROWTH EXCEPT SMX, WHERE OPERATING PROFIT DECREASED MAINLY AS A RESULT OF
MARGINS IN THE MINING EXPLOSIVES BUSINESS BEING SEVERELY DEPRESSED. THE
COMMISSIONING OF NEW PLANTS FOR SASOL SOLVENTS AND SASOL ALPHA OLEFINS IS
FAVOURABLY REFLECTED IN THEIR RESULTS. THESE DIVISIONS' COMBINED TURNOVER
INCREASED BY MORE THAN 50% (ALMOST R700 MILLION) WITH COMMENSURATE GROWTH IN
PROFIT.
FIRM PLANS ARE IN HAND TO FURTHER THE STRATEGIC GROWTH OF SCI. SASOL SOLVENTS
IS MOVING AHEAD WITH PROJECTS TO BUILD A NORMAL-BUTANOL PLANT AND AN ACRYLIC
ACID AND ACRYLATES COMPLEX AT SASOLBURG. SASOL ALPHA OLEFINS IS ABOUT TO
COMMISSION ITS THIRD HEXENE TRAIN AT SECUNDA AND IS TO BUILD A WORLD-SCALE
PLANT FOR THE PRODUCTION OF DETERGENT-RANGE ALCOHOLS. A SECOND OCTENE PLANT IS
ALSO UNDER REVIEW. POLIFIN IS INVESTING R1,2 BILLION AS AN EQUITY PARTNER IN A
NEW WORLD-SCALE POLYETHYLENE PLANT AND ETHYLENE CRACKER UNDER CONSTRUCTION AT
KERTIH, MALAYSIA.
SASOL SYNFUELS INTERNATIONAL (SSI)
SSI IS PROGRESSING WITH CHEVRON IN DEVELOPING A GAS-TO-LIQUIDS (GTL) JOINT
VENTURE AT CHEVRON'S OIL AND GAS FACILITIES AT ESCRAVOS IN NIGERIA. THROUGH THE
SASOL-CHEVRON GLOBAL JOINT VENTURE, SASOL WILL PROVIDE TECHNOLOGY, TECHNICAL
SUPPORT AND OPERATING SKILLS FOR THE ENVISAGED GTL PLANT AND MARKETING
EXPERTISE FOR FINAL PRODUCTS. QATAR GENERAL PETROLEUM CORPORATION (51%) AND
SASOL (49%) REVERTED TO THE ORIGINAL TWO-PARTNER VENTURE OF THE GTL VENTURE AT
RAS LAFFAN IN QATAR AND HAVE AGREED TO INCREASE THE CAPACITY OF THE ENVISAGED
PLANT TO    30 000 BARRELS A DAY OF HIGH-QUALITY, CLEAN FUELS AND NAPHTHA.
SASOL PETROLEUM INTERNATIONAL (SPI)
PROVEN AND PROBABLE HYDROCARBON RESERVES OF 128 MILLION BARRELS OF OIL
EQUIVALENT MORE THAN DOUBLED TO 261 MILLION BARRELS DURING THE YEAR. THIS WAS
ACHIEVED AT A FINDING COST OF US 47 CENTS A BARREL OF OIL EQUIVALENT, WHICH IS
BELOW INDUSTRY AVERAGE. SPI IS NOW THE SOLE OWNER OF MOZAMBIQUE'S TEMANE AND
M-10 BLOCKS AFTER SUCCESSFULLY ACQUIRING THE INTEREST OF ARCO AND ZARARA ON
ATTRACTIVE TERMS. AS PART OF THIS ACQUISITION, ZARARA RETAIN A 10% INTEREST IN
THE SOFALA BLOCK WITH SPI OWNING THE BALANCE. AN AGREEMENT WAS REACHED WITH
ENRON OIL & GAS WHICH ENABLES SASOL TO ACQUIRE, SUBJECT TO APPROVAL BY THE
GOVERNMENT OF MOZAMBIQUE, A 60% RIGHT IN THE PANDE GAS FIELD.
THE ACQUISITION OF THESE WORLD-CLASS RESERVES WILL ENABLE THE DEVELOPMENT OF A
NATURAL GAS BUSINESS IN THE REGION, PROVIDING A SIGNIFICANT GROWTH OPPORTUNITY.
PROFIT OUTLOOK
PLEASING GROWTH OVER THE HIGH BASE ACHIEVED IN THE YEAR UNDER REVIEW IS
EXPECTED FOR THE 2001 FINANCIAL YEAR. THE GROUP'S CONTINUING COST-REDUCTION
INITIATIVES - SUPPORTED BY A STRONG BUSINESS OPTIMISATION DRIVE - WILL
CONTRIBUTE SIGNIFICANTLY TO PROFIT GROWTH. THIS, TOGETHER WITH PLANNED VOLUME
GROWTH IN MANY OF THE GROUP'S OPERATIONS, IS EXPECTED TO COUNTER THE
ANTICIPATED DROP IN OIL AND CHEMICAL PRICES IN THE SHORT TERM. THE CONTINUED
FOCUS ON FURTHER DEVELOPING THE GROUP'S HUMAN RESOURCES AND ITS COMPETITIVE
TECHNOLOGIES WILL INCREASE THE BENEFITS EXPECTED TO FLOW FROM COST REDUCTION
AND VOLUME GROWTH.
DECLARATION OF DIVIDEND NUMBER 42
NOTICE IS HEREBY GIVEN THAT THE DIRECTORS HAVE DECLARED A FINAL DIVIDEND OF 137
CENTS PER SHARE (1999 - 86 CENTS PER SHARE) IN RESPECT OF THE YEAR ENDED 25
JUNE 2000.
THE DIVIDEND IS DECLARED IN THE CURRENCY OF THE REPUBLIC OF SOUTH AFRICA AND
WILL BE PAYABLE TO SHAREHOLDERS REGISTERED IN THE BOOKS OF THE COMPANY AT THE
CLOSE OF BUSINESS ON FRIDAY,
15 SEPTEMBER 2000. DIVIDEND CHEQUES WILL BE POSTED ON OR ABOUT 19 OCTOBER 2000.
ELECTRONIC PAYMENT OF DIVIDENDS WILL TAKE PLACE ON THE SAME DATE.
BY ORDER OF THE BOARD
N L JOUBERT
COMPANY SECRETARY
29 AUGUST 2000
DIVISIONAL CONTRIBUTION TO OPERATING PROFIT
THE CONTRIBUTION TO THE OPERATING PROFIT OF THE GROUP WAS AS FOLLOWS:
                                         25 JUNE   25 JUNE
                                         2000      1999      %
                                         RM        RM        INCREASE
SASOL SYNTHETIC FUELS                    3 987     1 768     126
SASOL MINING                             317       283       12
SASOL OIL                                784       647       21
SASOL CHEMICAL INDUSTRIES                1 576     1 051     50
OTHER*                                   (251)     (48)      -
                                         6 413     3 701     73
*MAINLY SASOL PETROLEUM INTERNATIONAL
PARTICULARS OF FINANCIAL RESULTS
THE RESULTS HAVE BEEN PREPARED ON THE HISTORICAL COST BASIS AND THE ACCOUNTING
POLICIES APPLIED DURING THE YEAR ARE CONSISTENT IN ALL MATERIAL RESPECTS WITH
THOSE ADOPTED IN THE PREVIOUS YEAR. THE GROUP'S AUDITED CONSOLIDATED RESULTS
FOR THE YEAR ENDED 25 JUNE 2000 ARE AS FOLLOWS:
CONSOLIDATED INCOME STATEMENT
                                              YEAR ENDED
                                           25 JUNE   25 JUNE     %
                                           2000      1999        INCREASE
                                           RM        RM
TURNOVER                                   25 762    19 180      34
COST OF SALES                              (17 328)  (13 626)
GROSS PROFIT                               8 434     5 554       52
ADMINISTRATIVE AND OTHER
OPERATING EXPENSES                         (2 021)   (1 853)
OPERATING PROFIT                           6 413     3 701       73
FINANCIAL (CHARGES)/INCOME                 (184)     75
NET INCOME BEFORE TAXATION                 6 229     3 776       65
TAXATION                                   (2 143)   (1 203)
INCOME AFTER TAXATION                      4 086     2 573       59
OUTSIDE SHAREHOLDERS' INTEREST             (21)      (32)
EARNINGS ATTRIBUTABLE TO
PERMANENT CAPITAL HOLDERS                  4 065     2 541       60
NET DEBENTURE INTEREST                     (62)      (62)
EARNINGS ATTRIBUTABLE TO SHAREHOLDERS      4 003     2 479       61
EARNINGS PER SHARE (CENTS)
  - ATTRIBUTABLE EARNINGS BASIS            662       409         62
  - DILUTED ATTRIBUTABLE EARNINGS BASIS    615       384         60
  - HEADLINE EARNINGS BASIS                727       402         81
  - DILUTED HEADLINE EARNINGS BASIS        674       377         79
DIVIDENDS PER SHARE (CENTS)
  - INTERIM                                83        65          28
  - FINAL                                  137       86          59
  - TOTAL                                  220       151         46
CONSOLIDATED BALANCE SHEET
                                                         AS AT
                                                   25 JUNE    25 JUNE
                                                   2000       1999
                                                   RM         RM
EQUITY AND LIABILITIES
SHAREHOLDERS' INTEREST                             16 636     15 131
CONVERTIBLE DEBENTURES                             1 028      1 028
PERMANENT CAPITAL HOLDERS' INTEREST                17 664     16 159
OUTSIDE SHAREHOLDERS' INTEREST                     116        102
LONG-TERM LIABILITIES AND PROVISIONS               635        631
DEFERRED TAXATION                                  3 295      3 145
TOTAL EQUITY AND LONG-TERM LIABILITIES             21 710     20 037
CREDITORS                                          3 706      2 915
TAXATION                                           1 310      291
SHORT-TERM LOANS                                   1 056      492
SHAREHOLDERS FOR DIVIDEND                          785        521
CURRENT LIABILITIES                                6 857      4 219
TOTAL EQUITY AND LIABILITIES                       28 567     24 256
ASSETS
FIXED ASSETS                                       17 054     16 048
GOODWILL                                           1 754      156
TOWNSHIP LAND AND RESIDENTIAL BUILDINGS            125        156
INVESTMENTS                                        259        254
LONG-TERM LOANS AND DEBTORS                        384        342
LONG-TERM ASSETS                                   19 576     16 956
INVENTORIES                                        3 686      2 842
DEBTORS                                            4 799      3 650
CASH FUNDS                                         506        808
CURRENT ASSETS                                     8 991      7 300
TOTAL ASSETS                                       28 567     24 256
NET WORTH PER SHARE (CENTS)*                       2 873      2 496
NUMBER OF ORDINARY SHARES IN ISSUE
 (MILLION)*                                        579,0      606,1
WEIGHTED AVERAGE NUMBER OF ORDINARY
 SHARES IN ISSUE (MILLION)*                        604,4      605,8
NUMBER OF DEBENTURES IN ISSUE (MILLION)            56,4       56,4
CAPITAL EXPENDITURE FOR PERIOD                     1 992      2 348
CAPITAL EXPENDITURE AUTHORISED                     6 682      2 843
*AFTER SHARE BUYBACK PROGRAMME.
CONSOLIDATED CASH FLOW STATEMENT
                                                       YEAR ENDED
                                                    25 JUNE    25 JUNE
                                                    2000       1999
                                                    RM         RM
CASH FLOW FROM OPERATIONS                           8 502      5 063
INVESTMENT INCOME                                   203        384
MOVEMENT IN WORKING CAPITAL                         (870)      (895)
CASH GENERATED BY OPERATING ACTIVITIES              7 835      4 552
FINANCE COSTS PAID                                  (387)      (309)
TAXATION PAID                                       (1 209)    (1 105)
  - NORMAL TAXATION                                 (1 102)    (1 012)
  - SECONDARY TAX ON COMPANIES                      (107)      (93)
CASH AVAILABLE FROM OPERATING ACTIVITIES            6 239      3 138
DISTRIBUTED TO PERMANENT CAPITAL HOLDERS            (1 114)    (980)
CASH RETAINED FROM OPERATING ACTIVITIES             5 125      2 158
ACQUISITION OF FIXED ASSETS                         (1 992)    (2 348)
  - TO MAINTAIN EXISTING LEVEL OF BUSINESS          (577)      (881)
  - TO EXPAND BUSINESS                              (1 415)    (1 467)
ACQUISITION OF TOWNSHIP LAND AND
RESIDENTIAL BUILDINGS                               -          (1)
CASH ACQUIRED ON ACQUISITION OF BUSINESSES          89         13
LONG-TERM ASSETS SOLD                               72         101
ACQUISITION OF BUSINESSES                           (2 827)    (346)
INCREASE IN INVESTMENTS                             (1)        (29)
INCREASE  IN LONG-TERM LOANS AND DEBTORS            (33)       (76)
CASH UTILISED IN INVESTING ACTIVITIES               (4 692)    (2 686)
DECREASE/(INCREASE) IN FUNDING REQUIREMENTS         433        (528)
SHARE CAPITAL ISSUED                                16         10
SHARE BUYBACK PROGRAMME                             (1 290)    -
DECREASE IN OUTSIDE SHAREHOLDERS' INTEREST          (11)       (17)
INCREASE IN LONG-TERM LIABILITIES                   4          75
INCREASE/(DECREASE) IN SHORT-TERM LOANS             546        (1 073)
CASH EFFECT OF FINANCING ACTIVITIES                 (735)      (1 005)
DECREASE IN CASH                                    (302)      (1 533)
CASH AT BEGINNING OF YEAR                           808        2 341
CASH AT END OF YEAR                                 506        808
DECREASE IN CASH                                    (302)      (1 533)
CHANGES IN EQUITY STATEMENT
                                                        YEAR ENDED
                                                    25 JUNE    25 JUNE
                                                    2000       1999
                                                    RM         RM
SHARE CAPITAL
OPENING BALANCE - 26 JUNE 1999                      1 543      1 533
ISSUED DURING THE YEAR                              16         10
CLOSING BALANCE - 25 JUNE 2000                      1 559      1 543
DISTRIBUTABLE RESERVES
UNAPPROPRIATED INCOME
OPENING BALANCE - 26 JUNE 1999                      12 735     10 669
UNAPPROPRIATED INCOME FOR THE YEAR                  4 003      2 479
DEFERRED TAX-RATE ADJUSTMENT                        -          502
DIVIDENDS                                           (1 289)    (915)
CLOSING BALANCE - 25 JUNE 2000                      15 449     12 735
TRANSLATION RESERVE
OPENING BALANCE - 26 JUNE 1999                      81         51
MOVEMENT FOR THE YEAR                               65         30
CLOSING BALANCE - 25 JUNE 2000                      146        81
GENERAL RESERVE                                     340        340
EQUALISATION RESERVE                                432        432
CLOSING BALANCE - 25 JUNE 2000                      772        772
SHARE BUYBACK PROGRAMME                             (1 290)    -
TOTAL SHAREHOLDERS' INTEREST                        16 636     15 131
SASOL LIMITED
COMPANY REGISTRATION NUMBER 1979/003231/06)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
REGISTERED OFFICE
1 STURDEE AVENUE, ROSEBANK
JOHANNESBURG, 2196
PO BOX 5486, JOHANNESBURG, 2000
TRANSFER SECRETARIES
MERCANTILE REGISTRARS LIMITED
11 DIAGONAL STREET, JOHANNESBURG, 2001
PO BOX 1053, JOHANNESBURG, 2000
WEBSITE   HTTP://WWW.SASOL.COM
DIRECTORS   P DU P KRUGER (CHAIRMAN)   P V COX (MANAGING DIRECTOR)  E LE R
BRADLEY   W A M CLEWLOW   B PCONNELLAN   L P A DAVIES (EXECUTIVE DIRECTOR)   J
H FOURIE (EXECUTIVE DIRECTOR)   R HAVENSTEIN (EXECUTIVE DIRECTOR)   S MONTSI
J E SCHREMPP (GERMAN)   CBSTRAUSS



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.