Sasol’s earnings decrease on big Iranian asset write-down

Sasol has taken a 1.98-billion rand ($221.81 million) impairment charge on its interest in the Arya Sasol Polymer Co. (ASPC; Assaluyeh, Iran) joint venture, and there will be more charges to come if Sasol succeeds in divesting its 50% interest in ASPC. Sasol says in a recent 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, excluding the ASPC write-down, but that the write-down would push underlying EPS 10–20% lower. Sasol says that its...

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