Wrap Text
SOL - Sasol Limited - Sasol confirms expected range of earnings per share
for the six months ended 31 December 2009
Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/03)
ISIN: ZAE000006896 & US8038663006
Share codes: JSE - SOL & NYSE - SSL
("Sasol" or "the Company")
Sasol confirms expected range of earnings per share for the six months
ended 31 December 2009
In a trading statement released on 3 December 2009, Sasol advised
shareholders that earnings per share ("EPS") and headline earnings per
share ("HEPS") of the group for the six months ended 31 December 2009
were expected to decrease by at least 45% compared to the prior
comparable period.
As previously stated, HEPS for the first half of the 2009 financial year
were at a record high. It was reported that the expected decrease in
earnings was mainly due to the significant strengthening of the rand
against the US dollar and a decrease in average crude oil and product
prices compared to the corresponding six months of the previous reporting
period. In addition, the average oil price achieved during the prior year
comparable period was positively impacted by the effect of oil hedges
which resulted in a net gain of approximately R5 billion. It was also
highlighted that the results may be further impacted by the potential
change in volume variances and the impact of a stronger rand on closing
financial assets and liabilities, as well as any adjustments resulting
from the half year-end closure process. Volatile market conditions, at
the time, precluded the group from providing a more precise indication of
the range of the earnings decline expected.
Following completion of the half-year closure process, Sasol is now able
to indicate that the reduction in EPS and HEPS is expected to be between
50% and 55%.
It is emphasised that, as per our previous statement, this trading update
deals only with the first half of the 2009 financial year comparison. The
very low earnings base of the second half of the 2009 financial year will
strongly influence a comparison of the full 2010 financial year`s results
with 2009 and guidance in this regard will be given in due course.
The above information has not been reviewed or reported on by the
Company`s external auditors.
Sasol`s interim results for the six months ended 31 December 2009 will be
released on Monday, 8 March 2010.
Johannesburg
12 February 2010
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Forward looking statements
We 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. There 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 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 annual
report under the Securities Exchange Act of 1934 on Form 20-F filed on 9
October 2009 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 Sasol does not undertake any obligation to
update or revise any of them, whether as a result of new information,
future events or otherwise.
Date: 12/02/2010 09:43:02 Supplied by www.sharenet.co.za
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