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Sasol's earnings decline on big Iranian asset writedown

7:12 AM MST | February 14, 2013 | Natasha Alperowicz

Sasol has taken a 1.98-billion rand ($221.81 million) impairment charge on its interest in the Iranian joint venture Arya Sasol Polymer Co. (ASPC; Assaluyeh, Iran), and there will be more to come if it succeeds in divesting its 50% interest. Sasol says in a scheduled trading statement that its underlying earnings per share (EPS) for the second half of 2012 would be 0–5% higher than in the corresponding period of 2011, but that, because of the ASPC writedown, reported EPS would be 10–20% lower.   Sasol says its profitability so far for the...

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