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Oao - Oando Plc - Oando Earnings Forecast For The Second Quarter Ending

Release Date: 19/05/2011 07:05:14      Code(s): OAO
OAO - Oando PLC - Oando earnings forecast for the second quarter ending         
30 June 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 SECOND QUARTER ENDING 30 JUNE 2011              
In accordance with the Listings Requirements and Rules governing the Company`s  
listing on the Nigerian Stock Exchange and Section B4(3) of the New Rule        
/Amendments to the Rules & Regulations of the Nigerian Securities and Exchange  
Commission, Oando is pleased to provide the following earnings forecast for     
the second quarter ending 30 June 2011:                                         
All figures in US$ `millions                                                    
                                    Q2 2011 Forecast                            
Turnover                             905                                        
Cost of sales                        (787)                                      
Direct contribution                  118                                        
Operating expenses                   (61)                                       
Other operating income/charges       11                                         
Operating profit                     67                                         
Interest payable & similar charges   (20)                                       
Depreciation                         (13)                                       
Profit before tax                    35                                         
Provision for tax                    (16)                                       
Profit after tax                     19                                         
                                                                                
The earnings forecast reported in this announcement has neither been reviewed   
nor reported on by the auditors of the Company.                                 
19 May 2011                                                                     
Sandton                                                                         
JSE Sponsor                                                                     
Macquarie First South Advisers (Proprietary) Limited                            
Date: 19/05/2011 07:05:14 Supplied by www.sharenet.co.za                     
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