Expected headline earnings per share for the financial year ended 30 June 2011 to increase by between 22% and 32%, and earnings per share to increase by between 18% and 28%, compared to the prior year.
In the update from the chief financial officer released on 14 June 2011, we stated that we were confident of achieving an overall solid operational performance and containing cost increases to within inflationary levels for the 2011 financial year. At the time the volatility and uncertainty of global markets, as well as any adjustments arising from our year end closure process, made it difficult to be more precise in our profit outlook statement.
Sasol’s profitability for the financial year ended 30 June 2011 has improved due to our sustained focus on factors within our control – such as enhancing operational efficiencies, delivering on our business improvement plans and strict cost management. In addition, robust global commodity prices have countered the impact of the strong rand.
The Group remains a strong cash generator and maintains a solid financial position.
Shareholders are accordingly advised that Sasol’s headline earnings per share (HEPS) for the year ended 30 June 2011 are expected to increase by between 22% and 32%, and earnings per share (EPS) for the year ended 30 June 2011 are expected to increase by between 18% and 28%, compared to the previous financial year.
Our results may be further affected by any adjustments resulting from our year-end process. This may result in a change in the estimated earnings.
Sasol’s financial results for the year ended 30 June 2011 will be announced on Monday, 12 September 2011.
The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s external auditors.
