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Cape Town - Naspers [JSE:NPN] subsidiary Media24 has shown a 5% decrease in profit on a 5% increase in turnover to R8.3m in the year to end March.
Media24 CEO Esmaré Weideman said the increase in turnover had been achieved despite "tough economic circumstances and large scale structural changes in the industry".
She foresees further cost savings in the group.
The turnover of Media24's book publishing division increased by 10% and that of its printing division (Paarl Media) by 6%.
The advertising income decreased by 3%, mainly due to the move away from national adverts in the print media.
Paarl Media is expanding to new markets and, according to Weideman, it has obtained new contracts for printing elsewhere in Africa.
In the group's news divisions (newspapers and online news) the advertising income and circulation are under pressure.
However, Weideman finds the growth in the number of subscribers, compared to the previous financial year, "encouraging".
The number of subscribers increased by 25%, mainly due to the acquisition of the news service I-Net Bridge.
"The circulation has stabilised over the past few months and our local newspapers and digital footprint have been expanded."
The 24.com division, which includes websites like News24, Fin24, Careers24 and Health24, has increased its average daily page visits by 15%.
Media24's fashion website Spree is doing well and the magazine division made a "brilliant trade profit".
* Fin24 is part of Media24, a subsidiary of Naspers.
Media24 CEO Esmaré Weideman said the increase in turnover had been achieved despite "tough economic circumstances and large scale structural changes in the industry".
She foresees further cost savings in the group.
The turnover of Media24's book publishing division increased by 10% and that of its printing division (Paarl Media) by 6%.
The advertising income decreased by 3%, mainly due to the move away from national adverts in the print media.
Paarl Media is expanding to new markets and, according to Weideman, it has obtained new contracts for printing elsewhere in Africa.
In the group's news divisions (newspapers and online news) the advertising income and circulation are under pressure.
However, Weideman finds the growth in the number of subscribers, compared to the previous financial year, "encouraging".
The number of subscribers increased by 25%, mainly due to the acquisition of the news service I-Net Bridge.
"The circulation has stabilised over the past few months and our local newspapers and digital footprint have been expanded."
The 24.com division, which includes websites like News24, Fin24, Careers24 and Health24, has increased its average daily page visits by 15%.
Media24's fashion website Spree is doing well and the magazine division made a "brilliant trade profit".
* Fin24 is part of Media24, a subsidiary of Naspers.
