Go Back Email this Link to a friend


Sol - Sasol - Revised Trading Statement

Release Date: 26/08/2009 08:00:01      Code(s): SOL
SOL - Sasol - Revised Trading Statement                                         
Sasol Limited                                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1979/003231/06)                                            
ISIN: ZAE000006896          US8038663006                                        
Share codes: JSE - SOL      NYSE - SSL                                          
("Sasol" or "the Company")                                                      
REVISED TRADING STATEMENT                                                       
HEADLINE EARNINGS PER SHARE ("HEPS") AND EARNINGS PER SHARE ("EPS") FOR THE     
FINANCIAL YEAR ENDED 30 JUNE 2009 BETTER THAN EXPECTED                          
HEPS EXPECTED TO DECREASE BY BETWEEN 32% and 37%, AND EPS EXPECTED TO DECREASE  
BY BETWEEN 37% and 42% COMPARED TO THE PRIOR YEAR                               
Introduction                                                                    
In our trading statement issued on 19 June 2009, we indicated that our EPS and  
HEPS were expected to decrease by between 40% and 50%.  At the time we          
cautioned that our results may be further impacted by changes in the oil and    
product prices, the impact of a much stronger rand on closing financial assets  
and liabilities as well as any adjustments resulting from our year-end process  
and that these may result in a change in the estimated earnings.                
Developments in final month of trading                                          
The negative effect of the stronger R/USD closing exchange rate was less than   
anticipated on closing balances, the strengthening of the Brent crude oil       
price and product prices during June 2009 exceeded expectations and higher      
refining margins as well as greater positive stock effects than forecasted      
were experienced.  In addition, the decline in the Sasol share price during     
June 2009 resulted in lower share-based payment expenses.  All of these         
positive factors contributed to the current profit expectation being better     
than expected than at the time of the issuance of the trading statement on 19   
June 2009.                                                                      
Provision in respect of Escravos Gas-to-Liquids (EGTL) interest                 
Management has prudently decided to make a provision in the amount of R1 279    
million in respect of the EGTL interest disposed of. Further details will be    
provided in the final financial results announcement.                           
Revised profit outlook for full 2009 financial year                             
Taking cognisance of the abovementioned factors, the HEPS for the full 2009     
financial year are expected to decrease by between 32% and 37%, and EPS are     
expected to decrease by between 37% and 42% compared to the prior year.         
Sasol`s financial results for the year ended 30 June 2009 will be announced on  
Monday, 14 September 2009.                                                      
The financial information on which the above information is based has not been  
reviewed or reported on by the Company`s auditors.                              
Johannesburg                                                                    
26 August 2009                                                                  
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited               
Sasol may, in this document, make statements that are not historical facts and  
relate to analyses and other information based on forecasts of future results   
and estimates of amounts not yet determinable. These are forward-looking        
statements as defined in the U.S. Private Securities Litigation Reform Act of   
1995. Words such as "believe", "anticipate", "expect", "intend", "seek",        
"will", "plan", "could", "may", "endeavour" and "project" and similar           
expressions are intended to identify such forward-looking statements, but are   
not the exclusive means of identifying such statements.                         
By their very nature, forward-looking statements involve inherent risks and     
uncertainties, both general and specific, and there are risks that              
predictions, forecasts, projections and other forward-looking statements will   
not be achieved. If one or more of these risks materialize, or should           
underlying assumptions prove incorrect, actual results may be very different    
from those anticipated. The factors that could cause our actual results to      
differ materially from the plans, objectives, expectations, estimates and       
intentions expressed in such forward-looking statements are discussed more      
fully in our registration statement under the Securities Exchange Act of 1934   
on Form 20-F filed on 7 October, 2008 and in other filings with the United      
States Securities and Exchange Commission. Forward-looking statements apply     
only as of the date on which they are made, and we do not undertake any         
obligation to update or revise any of them, whether as a result of new          
information, future events or otherwise.                                        
Date: 26/08/2009 08:00:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
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.