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Omnia Holdings Profit Warning

Release Date: 26/08/1999 09:13:44      Code(s): OMN
OMNIA HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 67/03680/06)
PROFIT WARNING
IN THE COMPANY'S LAST ANNUAL REPORT, OMNIA SHAREHOLDERS WERE ADVISED TO EXPECT
A REAL INCREASE IN EARNINGS FOR THE CURRENT FINANCIAL YEAR. HOWEVER, MARKET
CONDITIONS IN THE FERTILIZER INDUSTRY DETERIORATED IN THE FIRST HALF OF THIS
YEAR WHICH MANIFESTED IN A DROP IN SALES VOLUMES, WHILST MARGINS WERE
SIMULTANEOUSLY SQUEEZED BY EXCESSIVE FERTILIZER PRICE REDUCTIONS.
SHAREHOLDERS ARE THEREFORE ADVISED THAT OMNIA'S EARNINGS FOR THE FULL YEAR TO
END DECEMBER 1999 ARE LIKELY TO BE BELOW THOSE OF LAST YEAR.
PRICES IN THE LOCAL FERTILIZER MARKETS HAVE NOW RETURNED TO MORE ACCEPTABLE
LEVELS AND HENCE PROSPECTS FOR THE SECOND HALF, WHEN THE BULK OF OMNIA'S
FERTILIZER SALES TAKES PLACE, ARE FAR BETTER.
FURTHER DETAILS WILL BE GIVEN IN THE RESULTS FOR THE FIRST HALF OF THE 1999
FINANCIAL YEAR, TO BE PUBLISHED ON 2 SEPTEMBER 1999.
BY ORDER OF THE BOARD
JG PRETORIUS (CHAIRMAN)               RB HUMPHRIS (MANAGING DIRECTOR)
JOHANNESBURG
26 AUGUST 1999



                                        
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