OMN - Omnia Holdings Limited - Trading statement Release Date: 08/03/2010 17:42:01 Code(s): OMN
OMN - Omnia Holdings Limited - Trading statement
OMNIA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/003680/06)
JSE Code: OMN
("Omnia" or "the company" or "the Group")
Omnia is a diversified specialist chemical services company providing customised
solutions to the chemicals, mining, and agriculture markets.
The JSE Limited has recently amended its Listing Requirements in terms of which
a company is, amongst other matters, required to issue a trading statement when
it is reasonably certain that the earnings for the period to be reported on will
vary by 20% or more when compared to the previous comparable reporting period
regardless of being able to indicate range. A further announcement will then be
required once it has certainty on the range.
Guidance was given by Omnia at the release of the interim results on 30 November
2009 that the Group`s earnings for the full year to March 2010 would return to
profitability after the first half had been negatively impacted by, in
particular, the appreciation of the rand combined with the further decline of
some commodity prices. This combination necessitated a significant write down of
inventory values at the interim stage. Although volumes are recovering in the
mining division and the second half fertilizer demand is normalising, there is
certainty that the earnings for the current year will be considerably more than
20% below the extra-ordinary earnings by Omnia in the prior year ended 31 March
Omnia remains focused on balancing the Group`s risk profile and the company is
well positioned in the three critical sectors of the future (agriculture, water,
and alternative energy). The results for the year ended 31 March 2010 will be
published on approximately 9 June 2010.
The information contained in this announcement has not been reviewed or reported
on by Omnia`s auditors.
8 March 2010
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited
Date: 08/03/2010 17:42:01 Supplied by www.sharenet.co.za
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