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OAO
UNTP
OAO - Oando Plc - Oando earnings forecast for the fourth quarter ending
31 December 2011
Oando PLC
(Incorporated in Nigeria and registered as an external company in South
Africa)
External Registration number: RC 6474
Company registration number: 2005/038824/10
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or the "Company")
OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2011
In terms of the Listings Requirements and Rules governing listings on
the Nigerian Stock Exchange, Oando is pleased to provide its earnings
forecast for the fourth quarter ending 31 December 2011:
All figures in US$ `millions
Q4 2011 Forecast
Turnover 813
Cost of sales (688)
Direct contribution 125
Operating expenses (59)
Other operating income/charges 4
Operating profit 70
Interest payable & similar charges (9)
Depreciation (15)
Profit before tax 46
Provision for tax (22)
Profit after tax 24
The earnings forecast is prepared in compliance with Nigerian Statement
of Accounting Standards (SAS) translated to US Dollars (US$).
The earnings forecast reported in this announcement has neither been
reviewed nor reported on by the auditors of the Company.
26 October 2011
Sandton
JSE Sponsor
Macquarie First South Capital (Proprietary) Limited
OANDO PLC -
EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2011
KEY ASSUMPTIONS
1 Exchange Rate NGN/USD - Interbank 154
2 Annual Consumer Inflation Rate 9%
(year on year %)
3 Average selling price per barrel of $110/barrel
crude
4 Average selling price per standard $5.66/mscf
cubic meter (scm) of natural gas (NGN31.15/scm)
5 Average selling price per litre of ($0.42/litre)
Premium Motor Spirit (PMS) (NGN65/litre)
6 Average selling price per litre of NGN156/litre
Automotive Gas & Oil (AGO) (1.01/litre)
7 Average operating day rate for $101,401/day
swamp rigs
8 Average efficiency rate for swamp 95%
rigs
9 Tax Rate - Company Income Tax 30%
10 Tax Rate - Education Tax 2%
11 Tax Rate - Petroleum Profit Tax 50%
Deregulation of the downstream
sector is not expected during the
period.
Date: 26/10/2011 11:30:01 Produced by the JSE SENS Department.
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