South African media firm Avusa posted a 29% rise in full-year headline earnings per share and said it was confident it would deliver satisfactory profit this year.
Avusa, which owns flagship weekly newspaper the Sunday Times, said on Thursday headline EPS for the year to the end of March was 239 cents, in line with its own forecast.
The company said revenue from continuing operations rose 8% to R4,8-billion, boosted by cost-cutting initiatives and the sale of its Nigerian and Kenyan interests.
The company declared a maiden dividend of 60 cents per share, and said it expected to make a profit this year.
”We remain cautiously confident of delivering a satisfactory level of profitability,” Avusa said in a statement.
The company’s shares closed at R19 on Wednesday. — Reuters