NMS
NMS
NSX - NMS - Namsea - Trading update
NAMIBIAN SEA PRODUCTS LIMITED
("NAMSEA" OR "THE COMPANY")
(Incorporated in the Republic of Namibia)
(Registration no. 709/1953)
NSX SHARE CODE : NAS
JSE SHARE CODE : NMS
ISIN : NA0008640246
TRADING UPDATE
In terms of the Listings Requirements of the Namibian Stock Exchange ("NSX
Listings Requirements"), companies are required to publish a trading statement
as soon as they become aware that the financial results for the period to be
reported on next will be materially different from that of the previous
corresponding period.
Namsea will be reporting results for the six months ended 31 December 2006
towards the end of February 2007. Shareholders are referred to the announcement
published on SENS on 4 December 2006 regarding the change in year end. Since no
comparable figures were published for the six month period ended 31 December
2005, comparative figures were derived from the financial results published for
the full year ended 31 December 2005 and the interim results to 30 June 2005.
The group continued to trade poorly incurring an operating loss before tax for
the six months ended 31 December 2006 materially higher than the same period of
the previous year.
Shareholders are reminded that in the previous period, the results included a
reversal of deferred tax assets and liabilities that accounted for N$21.6
million of the attributable loss. Accordingly Namsea is expected to report
attributable losses and attributable losses per share for the current period
that are substantially lower than the previous period.
Correspondingly Namsea expects the headline loss and headline loss per share for
the reporting periodto be substantially lower than the previous period.
As the above information has not been reviewed or reported on by the company`s
auditors, shareholders are advised to exercise caution when dealing in the
company`s shares until publication of the financial results for the six months
ended 31 December 2006.
Walvis Bay
18 January 2007
Sponsor to Namsea in Namibia Sponsor to Namsea in South Africa
Investment House Namibia (Pty)Ltd PSG Capital Limited
Member of the Namibian Stock Exchange
Date: 18/01/2007 14:48:33 Produced by the JSE SENS Department.
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