PTMN Petmin

RNS Number:1284S
Petmin Limited
01 March 2007


                            Petmin - Trading Update


Petmin Limited

Incorporated in the Republic of South Africa

Registration Number 1972/001062/06

Share Code: PET (JSE), PTMN (AIM) ISIN: ZAE000076014

                    ("Petmin", "the company" or "the group")


                                 Trading Update


Shareholders of PETMIN are hereby advised that headline earnings per share for
the half year ending 31 December 2006 are likely to be in line with management's
expectations and will be approximately 2,97 cents per share, up from 2,34 cents
per share for the six months ended 31 December 2005, an increase of 27%. This
growth in headline earnings per share has been achieved despite an approximate
100% increase in the weighted average number of issued shares (from 221 084 000
to 441 205 000) to predominantly finance the development of the Somkhele
Anthracite Project that, as planned, will only start to generate revenue during
the second quarter of 2007.


Basic earnings per share for the half year ending 31 December 2006 are expected
to be approximately 8,73 cents per share, down from 17,64 cents per share for
the six months ended 31 December 2005, a decrease of 51%. The difference between
the headline and basic earnings per share is predominantly due to profit
generated on acquisition of subsidiary (negative goodwill). For the six month
period to 31 December 2005, Petmin acquired Springlake Holdings (Pty) Limited,
and a once off profit on acquisition of R33,8 million was recognised in the
basic earnings per share calculation. Without the once off profit on acquisition
of R33,8 million, the Basic earnings per share for the half year ending 31
December 2005 would have been 2,34 cents per share.


Petmin announced in December 2006 that it had entered into an agreement to sell
its entire shareholding in Baobab Mining and Exploration (Pty) Ltd for # 2,5
million and at 31 December 2006 all the suspensive conditions save for the
'Ministerial Consent" as required by Section 11 of the Minerals and Petroleum
Act, had been obtained. If all the conditions of the sale had been concluded on
31 December 2006, the Basic earnings per share for the half year ending 31
December 2006 would have been approximately 15 cents, down from 17,64 cents per
share for the six months ended 31 December 2005, a decrease of 15%.

This trading statement has not been reviewed or audited by the company's
auditors.


The company expects to release its interim results within the next 10 days.


1 March 2007

Johannesburg





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