| Tue 26 Jul 2011, 16:01 | | OML - Old Mutual Plc - Trading statement for Nedbank Group Limited |
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OML
OLOML
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 Produced by the JSE SENS Department.
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