HUG - Huge - Trading Statement

HUG - Huge - Trading Statement                                                  
HUGE GROUP LIMITED                                                              
(formerly Vanquish Fund Managers Limited)                                       
(Registration number 200/023587/06)                                             
Share code: HUG & ISIN: ZAE000102042                                            
("Huge" or "the Group" or "the company")                                        
TRADING STATEMENT                                                               
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a        
listed company is required to publish a                                         
trading statement as soon as it is satisfied that a reasonable degree of        
certainty exists that the financial results for the period to be reported       
upon next will differ, by at least 20%, from a profit forecast previously       
provided to the market in relation to such period.                              
Shareholders are referred to the SENS announcement published on 4 October       
2007 in which the directors of Huge revised the profit forecast that was        
included in the prospectus published on 1 August 2007 (in which the earnings    
per share for the twelve month period ended 29 February 2008 was forecast at    
16.42 cents) reflecting an increased expectation of earnings and headline       
earnings per share of 34.77 cents in order to include the effects of the        
shorter reporting period of Huge for the year ended 29 February 2008 (being     
a seven month period and not a twelve month period to 29 February 2008) as      
well as the potential effects of the acquisition of CentraCell (Proprietary)    
Limited ("CentraCell").                                                         
Huge`s financial results for the year ended 29 February 2008 (reflecting a      
seven month trading period) are expected to be announced on or about 26 May     
2008.                                                                           
Shareholders are advised that a reasonable degree of certainty exists that      
the company`s earnings per share and headline earnings per share are            
expected to be 10% to 20% higher than the 34.77 cents more recently forecast    
in the revised profit forecast published on SENS on 4 October 2007.             
Although the acquisition of CentraCell only became effective on 15 February     
2008 (resulting in a contribution of one month of trading results), the         
improved performance is primarily due to the increase in contracted annuity     
income from organic growth of the Company`s principal subsidiary Huge           
Telecom (Proprietary) Limited (previously TelePassport (Proprietary)            
Limited), the generation of additional operating efficiencies as well as        
certain taxable benefits derived from the utilisation by the Group of           
certain assessed losses available in CentraCell.                                
This trading statement has not been reviewed or reported on by the Company`s    
external auditors.                                                              
Johannesburg                                                                    
24 April 2008                                                                   
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Corporate advisor                                                               
Manhattan Equity Corporate Finance (Pty) Limited                                
Date: 24/04/2008 08:53:00 Supplied by www.sharenet.co.za                     
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