HUG - Huge Group Limited - Trading Statement

HUG - Huge Group Limited - Trading Statement                                    
HUGE GROUP LIMITED                                                              
(Registration number 2006/023587/06)                                            
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 the financial
results for the corresponding period in the prior year.                         
Huge is currently finalising its financial results for the six months ended 31  
August 2011.                                                                    
Shareholders are accordingly hereby advised that a reasonable degree of         
certainty exists that the company`s earnings per share ("EPS") are expected to  
decline by between 65% and 75% for the six months ending 31 August 2011, and    
that the headline earnings per share ("HEPS") are expected to decline by between
85% and 95% when compared to the EPS and HEPS reported for the six months ended 
31 August 2010.                                                                 
However, shareholders` attention is drawn to the fact that the results for the  
two periods include fair value adjustments on derivative instruments which are  
fully collateralised.  In the prior comparative period, the results included a  
positive fair value adjustment of R9.87 million (after tax) whilst the current  
period`s results reflect a negative fair value adjustment of R4.4 million (after
tax).  Thus the company has effectively shown a substantial operational turn    
around.  If the effects of the fair value adjustments on derivative instruments 
had been excluded from EPS, then the EPS in the prior period would have         
reflected a small loss of 0.31 cents per share and EPS for the current period   
would be expected to be approximately 4.6 cents per share.                      
This trading statement has not been reviewed or reported on by the Company`s    
external auditors.                                                              
Johannesburg                                                                    
30 November 2011                                                                
Designated Advisor                                                              
Arcay Moela Sponsors (Proprietary) Limited                                      
Date: 30/11/2011 16:12:11 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.