OLDFIELDS HOLDINGS LIMITED — Earnings Release 2012

Oct 22, 2012

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**ASX

Announcement**

**Trading

Update – September Quarter 2012**

Oldfields Holdings Limited (OLH) is pleased to provide a trading update on its 1[st] quarter performance for FY13.

Unaudited group revenue for the quarter was $7.3M, compared to $7.7M in the prior year (down 5%), unaudited EBITDA is $393K compared to $268K in the prior period (Up 46%).

Revenue in the consumer division is flat, with the Paint Applications category above prior year and the Storage category below, whilst revenue from the scaffolding division is 8% below prior year, due to continued weakness in the construction sector and a large order fulfilled in September 2011 which has not been repeated.

Improvements in profitability have been driven by a structured cost savings program, which includes both product cost savings and general overheads. In FY12, significant cost savings were achieved and this year the business is targeting further savings of $900K, some of these savings will be used to fund targeted organic growth opportunities.

$000'sRevenueEBITDA	1st QuarterFY12FY13 7,662 7,282 268 393

The Directors expect EBITDA in FY13 to show significant improvement on prior year.

_____________________________________________________________ Contact Chris Giles Robert Coleman Chief Executive Officer Chief Financial Officer + 61 2 4645-­‐0700 +61 2 4645-­‐0702 23 October 2012

Oldfields Holdings Limited ABN 92 000 307 988 Head Office: 8 Farrow Road Campbelltown NSW 2560 t+612 4627 0777 f+612 4627 0888

www.oldfields.com.au