Huge Group - Press Release - Positive Trading Statement


Huge Group - Press Release - Positive Trading Statement

By Huge Group - Monday, September 29, 2008

 

 
 
Huge Group trading statement heralds another solid performance
29 September 2008
 
The Huge Group expects to post a positive set of results as indicated by its Trading Statement on the JSE's Stock Exchange News Service (SENS) for the interim period ended August 2008, signaling significantly increased profits.
 
The SENS announcement predicts a net increase in earnings per share of between 750% and 770%, against the corresponding 6 month period to end August 2007.  The release does point out that this period last year included trading results for only one month as a listed entity, and when these results are extrapolated to a 6 month period, the real increase in earnings that can be expected by investors is between 25% and 28.33%.  This translates to expected earnings per share for the period of between 26.25 and 26.95 cents per share.
 
Huge Group CEO Anton Potgieter comments, "Once again we are delighted to bring good news to the market, especially in these trying times.  The results are reflective of solid underlying performance in our main subsidiary, Huge Telecom.  These results are also testimony to the swift and effective completion of the merger of the two businesses which formed Huge Telecom, being TelePassport and Centracell, and the fact that they already now form a dynamic and unified managed telecoms company."
 
On future plans Potgieter will not be drawn further than saying, "We have only just started building Huge into a multi-faceted investment vehicle that unlocks value - we have spent the better part of 2008 structuring and planning for expansion, so we are eminently prepared to exploit any appropriate opportunities."
 
About the Huge Group Ltd:
 
The Huge Group is an investment holding company, which listed on the AltX exchange of the JSE Limited on 8th August 2007.  The Huge Group includes:
- Wholly owned subsidiary Huge Telecom - a company that delivers fully managed telecommunications services to corporate clients;
- The impending acquisition of 59% of iTalk Cellular - a consumer offering that delivers GSM handsets, broadband and telemetry;
- Associate company TelePassport Communications - a corporate managed telecommunications service provider in Namibia;
- Associate company Eyeballs Mobile Advertising - a rich media based mobile advertising company.
 
The Huge Group trades under the share code HUG - more information can be found at www.hugegroup.com.
 
Photo available on request.

Further Information:
Anton Potgieter
Chief Executive Officer
011-603-6000
082-855-0505