Trading update May 2006
- Published: Thursday, 22 June 2006 08:00
Omnia, the diversified, specialist chemical services company provides customised solutions in the chemicals, mining and agriculture markets. In line with comments contained in previous announcements, a reduction in headline and basic earnings is expected for the full year. Omnia expects a decline in headline and basic earnings of between 20% and 40% for the 12 months ended 31 March 2006 compared to the same period last year. Shareholders are also advised that the headline and basic earnings per share for the 12 months ended 31 March 2006 is likewise expected to be between 20% and 40% lower than the headline and basic earnings of 507.7 cents per share for the 12 months ended 31 March 2005.
The primary reason for the depressed headline and basic earnings was as a result of lower fertilizer sales and reduced polymer margins. Both these conditions were temporary in nature.
Although headline and basic earnings for the Group declined, Omnia remains focused on balancing the Group’s risk profile and pursuing new growth opportunities, both nationally and internationally. This ability to mitigate potential negative impacts and ensure growth bodes well for the sustainable delivery of shareholder value into the future.
The financial information on which this trading update is based has not been reviewed and/or reported on by the company’s auditors. It is anticipated that the results for the twelve months ended 31 March 2006 will be published on or about 21 June 2006.
25 May 2006
OMNIA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1967/003680/06)
JSE code: OMN
(“Omnia” or “the Group”)
Barnard Jacobs Mellet Corporate Finance (Pty) Limited