Sasol Limited - Confirmation of Expected Range of Earnings Per Share for the Six Months Ended 31 December 2011

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Feb 02, 2012, 04:43 ET

JOHANNESBURG, Feb. 2. 2012 /PRNewswire/ -- In a trading statement released on 23 November 2011, Sasol advised shareholders that earnings per share (EPS) and headline earnings per share (HEPS) of the group for the six months ended 31 December 2011 were estimated to increase by at least 45% compared to the prior comparable period.

As previously stated, the expected increase in earnings was mainly due to solid operational performance in our businesses, coupled with a strong improvement in the average crude oil and product prices and a weaker rand/US dollar exchange rate. In addition, the results have been positively impacted by exchange gains on foreign exchange contracts. It was also highlighted that the results may be impacted by further changes in oil and product prices, volume variances, the impact of closing exchange rates on financial assets and liabilities, as well as any adjustments, including possible impairments, resulting from our half year-end closure process.

Sasol is now able to indicate that the increase in EPS and HEPS for the six months ended 31 December 2011 is expected to be between 80% and 90% compared to the prior comparable period. Our half-year closure process is currently in progress and further adjustments may arise including re-measurement effects. As previously stated, this trading statement only deals with the comparison to the first half of the 2011 financial year. The higher earnings base of the second half of the 2011 financial year will strongly influence a comparison of the full 2012 financial year's results with 2011. Guidance will be provided when there is a reasonable degree of certainty in this regard.

Sasol's financial results for the six months ended 31 December 2011 will be announced on Monday, 12 March 2012.

The financial information on which this trading statement is based has not been reviewed or reported on by the Company's external auditors.

Sasol Investor Relations
Tel.: +27 (0)11 441 3321/ 3562

Johannesburg
Sponsor: Deutsche Securities (SA) (Proprietary) Limited

Forward-looking statements:

Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. 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 the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report under the Securities Exchange Act of 1934 on Form 20-F filed on 7 October 2011 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. 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.

SOURCE Sasol Limited