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Sasol-Soladria case continues unabated
Finweek reported that Sasol's priority lies in settling big law suits, not small ones. Isti de Ujfalussy, a director of UK-based Soladria, a chemical supply company with which Sasol has been locked in a legal battle with for a decade, believes "Sasol is obsessive in its drive to prolong the case." Ujfalussy thinks Sasol tries to wear its opponents out over time. Soladria says it had an agreement with Sasol to supply "dirty chemicals", which Sasol first denied, but then said existed and was terminated early on. Sasol has declined to settle with Soladria twice, despite been asked to do so. Soladria's case with Sasol is dependent on the outcome of a 27 January 2010 court hearing.
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Sasol publishes CFO newsletter to investors
Sasol publishes CFO newsletter to investors on its website Johannesburg, South Africa, 3 December 2009 - Sasol has published a newsletter from its CFO - Christine Ramon - aimed at the investment community, on its website at: http://www.sasol.com/sasol_internet/frontend/navigation.jsp?navid=5600002&rootid =3 The newsletter includes a brief project update to the market following on the trading statement issued this afternoon.
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Sasol interim results for 31 December 2009
Sasol's earnings per share and headline earnings per share for the six months ending 31 December 2009 are estimated to decrease by at least 45% compared to the prior year comparable reporting period. In terms of the JSE Ltd listings requirements, a trading statement is necessitated when there is reasonable certainty that earnings will differ by at least twenty percent from the prior comparable period. Due to continued volatility, Sasol is unable at this time to give a more precise indication of how much this decrease will be, but a more accurate estimate will be given once the half year has closed and we have greater certainty. The expected decrease in earnings is 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.
It is emphasised that 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.
CFO letter
Sasol has posted an update of its major capital projects, as well as an operational review of Sasol Synfuels, through an update from the Chief Financial Officer letter on its website (www.sasol.com).
Sasol's financial results for the six months ending 31 December 2009 will be announced on Monday, 8 March 2010.
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Sasol - to sign USD2 billion agreement
Sasol, the world's largest fuel-from-coal producer, is on the brink of signing an agreement to invest about USD2 billion in Indonesia to build a coal liquefaction plant. Gita Wirjawan, head of the Indonesian Investment co-ordinating board, said yesterday that Sasol was ready to construct the plant and an agreement would be signed shortly. Indonesia estimates it's proven coal reserves at 12 billion tons an Indonesian government official said.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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