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Omn - Omnia Holdings Limited - Trading Update

Release Date: 23/10/2009 16:22:02      Code(s): OMN
OMN - Omnia Holdings Limited - Trading Update                                   
OMNIA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1967/003680/06)                                           
JSE Code: OMN                                                                   
ISIN: ZAE000005153                                                              
("Omnia" or "the Group")                                                        
Trading Update                                                                  
As indicated in Omnia`s year-end results published in June, the financial year  
ended 31 March 2009 was an exceptional year for the Group. The past financial   
year was characterised by unprecedented market conditions, in that it reflected 
neither the typical trading nor growth patterns experienced in previous years.  
Commodity prices in general have substantially declined since the beginning of  
the year, with the Group being significantly exposed to the rapid decrease in   
prices of nitrogen, phosphate and potash, the basic ingredients of fertilizer.  
The unprecedented collapse in the price of these commodities left the Group     
holding substantial fertilizer stocks for its farming customers valued at       
considerably higher prices than current market value. This has necessitated a   
material downward adjustment to the carrying value of the stock. The drop in    
commodity prices also had a negative effect on demand since farmers reduced     
their orders to the minimum while prices were declining. The mining industry in 
South Africa which forms an important component of the Group`s customer base was
also negatively impacted by the decline in commodity prices.                    
The continuing strong Rand remains one of the major impacts on financial        
performance of the Group in the near term impacting negatively on each of the   
three business divisions. Margins will therefore remain depressed as long as    
these conditions prevail                                                        
Accordingly, shareholders are advised that, for the interim period ended 30     
September 2009, the Group expects a loss of between R95 million and R105 million
or a loss per share of between  210 cents and  230 cents, after a profit of 839 
cents in the prior comparative period.                                          
Signs of economic recovery are visible. Commodities prices continue to benefit  
from growing optimism about global economic trends and conditions. Our divisions
continue to optimise opportunities across various geographies and industries    
whilst remaining focused on basic deliverables.                                 
The financial results for the review period will be published on 30 November    
2009.                                                                           
The information upon which this trading update is based has not been reviewed or
reported on by the Group`s auditors.                                            
Bryanston                                                                       
23 October 2009                                                                 
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
Date: 23/10/2009 16:22:02 Supplied by www.sharenet.co.za                     
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