Mail & Guardian Online
12° - 28°
Johannesburg | Set
THE SMART NEWS SOURCE | Mar 11 2010 17:43 | LAST UPDATED Mar 11 2010 17:43
ADVERTISE WITH US | CONTACT US | STORY TIP-OFFS | M&G NEWSLETTER    
Business | Companies

Avusa first-half profit drops, sees tough second half

JOHANNESBURG, SOUTH AFRICA Nov 20 2009 08:32
comments 0 comments | Post your comment


SA media company Avusa posted a 60% fall in first-half profit and forecast a tough second half as recession in its home market hit advertising revenue and consumer spending.

Avusa said on Friday basic headline earnings per share for the six months to end September fell 60% to 39 cents, having forecast a fall of between 55% and 65%.

The company, which owns the Sunday Times and Exclusive Books bookshop, said advertising revenue fell 20%, eroding margins at its media business.

"We expect the softer advertising and discretionary retail environment to continue until at least the end of Avusa's current financial year," the company said.

Operating costs, revealed a marginal R3-million increase over last year's costs, "reflect the successful implementation of group-wide cost-
cutting initiatives," the group said.

Avusa said its financial position remains ungeared and strong, with net cash of R200-million. - Reuters, I-Net Bridge

CONTINUES BELOW
TOPICS IN THIS ARTICLE

Related Articles

Tags

Organisations
Comments

You must be logged in to comment. Log in or sign up to comment
click here to log in

M&G Online Comment Guidelines In Brief

  • No hate speech;
  • No racist, sexist or homophobic remarks;
  • Keep it short;
  • Keep it on topic;
  • Show respect to all;
  • We reserve the right to remove or delete any comment without notice or reason.

Click here for the full Comment Guidelines

Advertising Links


LATEST ARTICLES IN THIS SECTION
POPULAR ARTICLES IN THIS SECTION

Kalahari.net
Find all your Unisa books you require for your studies and get them delivered right to your doorstep!
It's sale time again with fantastic savings on 1 000s of titles. Get some of the best books at discounted prices now.
46 000 DVDs and Blu-Ray Dics to choose from. Get up to 60% off at the Orange Sale.
100s of new releases now in stock! Sade, Foo Fighters, John Mayer & more!
Lots of Toys, free gift wrap, lowest prices on Lego Mindstorm, Ben 10, Hannah Montana & more!

Your M&G Online



Follow the Mail & Guardian on Twitter!


Direct message us on our mailandguardian account to chat to the M&G Online team.
THIS WEEK'S PAPER

Advertisements

Advertising links
Make us your home page | Add our headlines to your site | Desktop news with NewsFlash

Contact us | About us | Story tip-offs | Online advertising | Print advertising | Subscriptions | Topics A-Z | Corrections | Mobile sites

All material © Mail & Guardian Online. Material may not be published or reproduced in any form without prior written permission.
Read the site privacy policy and Ispa code of conduct relating to our blog hosting. RSS feed  
This site is proudly hosted by Internet Solutions. We are a member of the Online Publishers Association.