| Mon 6 Feb 2012, 12:00 | | OML - Old Mutual Plc - Nedbank Group - Trading Statement |
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OML
OLOML
OML - Old Mutual Plc - Nedbank Group - Trading Statement
OLD MUTUAL PLC
ISIN: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Ref 9/12
6 February 2012
NEDBANK GROUP - TRADING STATEMENT
Old Mutual plc announces that its majority owned South African banking
subsidiary Nedbank Group Limited ("Nedbank Group") released its third
quarter trading update today, 6 February 2012. The full Nedbank Group third
quarter trading update can be found on the company`s website
www.nedbankgroup.co.za.
The following is the full text of Nedbank Group`s announcement:
The following statement is made with reference to paragraph 3.4 (b) of the
JSE Listings Requirements:
Nedbank Group experienced ongoing earnings momentum in the fourth quarter of
2011 underpinned by the group`s strategic focus areas of repositioning
Nedbank Retail, growing NIR, portfolio tilt and expanding our business in
the rest of Africa. Overall, this is expected to contribute to strong
earnings growth for 2011 in excess of the group`s medium-to long-term
financial target.
Consequently, shareholders are advised that diluted headline earnings per
share ("EPS") and diluted basic EPS for the year ended 31 December 2011 are
expected to be between 23% and 28% higher than the 1 069 cents per share and
1 050 cents per share respectively reported for the comparative period to
December 2010.
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 year ended 31 December 2011 will be released
on SENS on Wednesday, 29 February 2012.
Sandton
6 February 2012
Enquiries
External Communications / Investor Relations
Patrick Bowes +44 (0)20 7002 7440
Kelly de Kock +27 (0)21 509 8709
Media
William Baldwin-Charles +44 (0)20 7002 7133
Sponsor:
Merrill Lynch SA (Pty) Limited
Notes to Editors
Old Mutual
Old Mutual 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 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, and shareholders`
equity of GBP9.0 billion.
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Date: 06/02/2012 12:00:01 Produced by the JSE SENS Department.
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