Broadcasting lifts Kagiso
CE Murphy Morobe described the group’s audited results for the year to June as “exceptional, given the prevailing economic climate”.
Kagiso said it had generated a 23% increase in headline earnings to R159,6m for the year to June. Revenue was up 14% to R841m.
The group’s broadcasting and information services divisions were largely responsible for the increases.
Headline earnings per share of 119,7c reflected an improvement of 22%. The group announced a dividend of 24c a share.
Kagiso ended the year with a cash balance of R137,8m.
Specialist information solutions provider LexisNexis’ results were particularly significant, said Morobe, as this division had already made inroads into the rest of Africa. LexisNexis’ results showed reported revenue and operating profit rising 22%, to R187,6m.
Kagiso’s three acquisitions this year — stakes in online media strategist Acceleration Media and sport sponsorship specialist Mobil Alliance, and a controlling interest in TV producer Urban Brew — signal the group’s interest in being a multimedia player.
But Kagiso Exhibitions and Events continued to disappoint, apparently because of challenging trading positions. However, the group said the 2010 Soccer World Cup should help lift the exhibitions and events business.
Loading ...