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OML - Old Mutual Plc - Trading statement for Nedbank Group Limited

Release Date: 26/07/2011 16:01
Code(s): OML
Wrap Text

OML - Old Mutual Plc - Trading statement for Nedbank Group Limited OLD MUTUAL PLC ISIN CODE: GB0007389926 JSE SHARE CODE: OML NSX SHARE CODE: OLM ISSUER CODE: OLOML OLD MUTUAL PLC Old Mutual plc Trading Statement for Nedbank Group Limited Old Mutual plc announces that its majority owned South African banking subsidiary Nedbank Group Limited ("Nedbank Group") made the following announcement today, 26 July 2011. "NEDBANK GROUP - TRADING STATEMENT On 7 July 2011 the group advised that the board was satisfied that a reasonable degree of certainty existed that diluted headline earnings per share (EPS) and diluted basic EPS for the six month period ended 30 June 2011 would be at least 20% higher than the 475 cents per share and 474 cents per share respectively reported for the comparative period to June 2010. Further to that announcement and having strengthened portfolio impairments in the current economic conditions, the board is now in a position to provide further guidance. Diluted headline EPS and diluted basic EPS for the six month period ended 30 June 2011 are expected to be between 23% and 28% higher than the 475 cents per share and 474 cents per share respectively reported for the comparative period to June 2010. Shareholders are advised that the financial information on which this trading statement is based has not been reviewed or reported on by the group`s auditors. Nedbank Group`s results for the six months ended 30 June 2011 will be released on SENS on Monday, 1 August 2011. Sandton 26 July 2011" Enquiries External Communications Patrick Bowes +44 (0)20 7002 7440 Investor Relations Aleida White +44 (0)20 7002 7287 Media William Baldwin-Charles +44 (0)20 7002 7133 Ref 73/11 26 July 2011 Notes to Editors Old Mutual Old Mutual plc is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others. In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of GBP1.5 billion (on an IFRS basis) and had GBP309 billion of funds under management, from core operations. For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com Date: 26/07/2011 16:01:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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