Publications
Partners
Johannesburg – Media and entertainment group Avusa [JSE:AVU] announced on Friday it expected its headline earnings per share for the year ended March to decline by up to 45%, and earnings per share to drop 55% compared with the corresponding period last year.
In its trading statement Avusa, which owns a majority stake in I-Net Bridge, said the comparative period's earnings include a R62m profit on the sale of Avusa's Nigerian and Kenyan operations, which together with an operating loss of R23m generated by those operations yielded a net profit from discontinued operations of R39m.
"The R62m profit on sale is excluded from headline earnings," said the publisher of Sunday Times, which also owns NuMetro and Exclusive Books.
"Apart from the impacts of the discontinued operations, the expected decrease in earnings is primarily as a result of an approximately 17% reduction in net advertising income," it said.
Avusa is scheduled to release results for the year ended March 2010 on or about June 24.
On Friday at 10:39 the share price was trading 0.05% lower at 1 880c.
- I-Net Bridge
In its trading statement Avusa, which owns a majority stake in I-Net Bridge, said the comparative period's earnings include a R62m profit on the sale of Avusa's Nigerian and Kenyan operations, which together with an operating loss of R23m generated by those operations yielded a net profit from discontinued operations of R39m.
"The R62m profit on sale is excluded from headline earnings," said the publisher of Sunday Times, which also owns NuMetro and Exclusive Books.
"Apart from the impacts of the discontinued operations, the expected decrease in earnings is primarily as a result of an approximately 17% reduction in net advertising income," it said.
Avusa is scheduled to release results for the year ended March 2010 on or about June 24.
On Friday at 10:39 the share price was trading 0.05% lower at 1 880c.
- I-Net Bridge
