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OAO
UNTP
OAO - Oando Plc - Oando earnings forecast for the second quarter ending 30
June 2012
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 SECOND QUARTER ENDING 30 JUNE 2012
In terms of the Listings Requirements and Rules governing listing on the
Nigerian Stock Exchange, Oando is pleased to provide the following profit and
loss forecast for the second quarter ending 30 June 2012:
All figures in $`millions
Q2 2012 Forecast
Turnover 1,196
Cost of sales (1,065)
Direct contribution 131
Operating expenses (62)
Other operating income/charges 3
Operating profit 72
Interest payable & similar charges (25)
Depreciation (14)
Profit before tax 33
Provision for tax (11)
Profit after tax 22
The earnings forecast are prepared in compliance with Nigerian Statement of
Accounting Standards (SAS) translated to US Dollars ($).
The earnings forecast reported in this announcement has neither been reviewed
nor reported on by the auditors of the Company.
10 April 2012
Sandton
JSE Sponsor
Macquarie First South Capital (Proprietary) Limited
OANDO PLC -
EARNINGS FORECAST FOR THE SECOND QUARTER ENDING 30 JUNE 2012
KEY ASSUMPTIONS
1 Exchange Rate NGN/$ - Interbank 160
2 Annual Consumer Inflation Rate (Year on 11.1%
Year)
3 Average borrowing rate 17.5%
4 Average selling price per barrel of crude $110/barrel
5 Average selling price per standard cubic NGN31.15/scm
meter (scm)of natural gas ($5.66/mscf)
6 Average selling price per litre of NGN97/litre
Premium Motor Spirit (PMS) ($0.61)/litre)
7 Average selling price per litre of NGN153/litre
Automotive Gas Oil (AGO) ($0.96/litre)
8 Average operating day rate for swamp rigs $101,401/day
9 Average efficiency rate for swamp rigs 95%
10 Tax Rate - Company Income Tax 30%
11 Tax Rate - Education Tax 2%
12 Tax Rate - Petroleum Profit Tax 50%
Date: 10/04/2012 13:00:01 Produced by the JSE SENS Department.
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