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Johannesburg – African Media Entertainment [JSE:AME] has reported an 8% rise in headline earnings per share to 463.9 cents for the year ended March 2013 from 428.9 cents a year ago.
A final dividend of 200 cents per share was declared.
Revenue was 5% higher at R216.7m and operating profit grew 7% to R53.4m.
The company‚ which owns and operates several radio stations‚ said the year was challenging on many fronts but the group’s companies maintained the growth achieved in the previous financial year.
Comprehensive income increased by 2% to R41.6m and after tax‚ the group generated R44.7m in cash from its operating activities.
It invested R7m in acquiring a site in Bloemfontein earmarked to be the new home of the Central Media Group and spent R2.8m on capital expenditure.
It ended the period with cash resources of R78.8m.
The diversification and expansion programmes of the group’s radio platforms into other local media brands continued to provide positive synergies and started to contribute to the bottom line‚ it said.
Digital advertising revenue continued to grow in importance for the group. Digital Platforms‚ the group's web development division‚ secured significant new business and also assisted with the group cost-saving drive by implementing in-house IT and CRM systems.
Looking ahead‚ African Media said the new financial year has started on a reasonably positive note and the board is optimistic that the revenue for the 2014 year will compare favourably with that of the prior year.
