eMedia Holdings has released its interim results for the six months ended 30 September 2019, showing impressive profit and market share growth.
The group ended the period with a profit from continuing operations of R102.1 million, an increase of 120% compared to the restated profit of R46.5 million in the previous period.
eMedia added that the loss from discontinued operations amounted to R5.9 million for the six months, with revenue increasing by 6.6% despite tough economic conditions.
“Included in the profit are the losses attributable to the continued investment into the multi-channel business (OpenView and Etv multi-channel) of R80.9 million compared to R84.3 million in the prior year,” the company said.
The company said that box activations have continued to grow steadily, with 1,777,784 boxes currently activated.
Etv has also seen impressive market share growth, increasing from 16.3% to 18.3%. The broadcaster’s advertising revenue has also seen a 4% improvement.
“Management is reviewing the schedule in order to maximise slots that are currently unprofitable,” the company said.
“July saw the launch of the new 18:30 drama series, Isipho, as well as the dubbed 17:30 Afrikaans telenovela. Initial ratings are encouraging for both time slots.”
eNCA also continues to perform well and remains the most-watched 24-hour news station on DStv even though it is not on all the DStv bouquets.
“eNCA has finished an intensive strategic restructuring process, which includes a new line-up, short-form branded content inserts and programmes,” eMedia added.