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Earnings rise for Kagiso Media

Johannesburg - Kagiso Media [JSE:KGM] on Thursday announced diluted headline earnings per share of 152.8 cents for the year ended June, from 136.6 cents previously.

Headline earnings per share advanced to 153.1 cents, from 136.8 cents.

The group noted diluted earnings per share from continuing operations of 118.1 cents, from 104.5 cents in 2010.

Total revenue excluding the disposal of LexisNexis, increased by 12% to R789.2m, driven primarily by the group's new media and content divisions. Operating profit was only marginally better at R252m, from R246.1m before.

Subsequent to year-end the board at Kagiso accepted an offer for the disposal of its 50% interest in LexisNexis for R565m.

Dividends declared to equity shareholders grew by 10% to 88 cents, from 80 cents in 2010.

In March the company paid an interim dividend of 50 cents per share. A final dividend in respect of the year to June 30 of 38 cents per share amounting to R50.84m  was declared by the board, payable on October 17.

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