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Oao - Oando - Oando Earnings Forecast For The First Quarter Ending 31 March 2011

Release Date: 25/01/2011 13:00:01      Code(s): OAO
OAO - Oando - Oando Earnings Forecast for the first quarter ending 31 March 2011
Oando PLC                                                                       
(Incorporated in Nigeria and registered as an external company in South Africa) 
(External Registration number: RC 6474                                          
company registration number: 2005/038824/10)                                    
Share Code on the JSE Limited: OAO                                              
Share Code on the Nigerian Stock Exchange: UNTP                                 
ISIN: NGOANDO00002                                                              
("Oando" or the "Company")                                                      
OANDO EARNINGS FORECAST FOR THE FIRST QUARTER ENDING 31 MARCH 2011              
In terms of the Listings Requirements and Rules governing listing on the        
Nigerian Stock Exchange, Oando is pleased to provide the following profit and   
loss forecast for the first quarter ending 31 March 2011:                       
All figures in Naira millions                                                   
                                    Q1 2011 Forecast                            
Turnover                                   101,958                              
Cost of sales                              (84,446)                             
Direct contribution                         17,513                              
Operating expenses                          (8,500)                             
Other operating income/charges               1,061                              
Operating profit                            10,074                              
Interest payable & similar charges          (2,649)                             
Depreciation                                (1,850)                             
Profit before tax                            5,575                              
Provision for tax                           (2,665)                             
Profit after tax                             2,910                              
                                                                                
The earnings forecast reported in this announcement has neither been reviewed   
nor reported on by the auditors of the Company.                                 
25 January 2010                                                                 
Sandton                                                                         
JSE Sponsor                                                                     
Macquarie First South Advisers (Proprietary) Limited                            
Date: 25/01/2011 13:00:01 Supplied by www.sharenet.co.za                     
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