Fin24

SABC posts R343m profit

2012-10-12 07:53

Johannesburg - Parliament's portfolio committee on communications was told on Thursday that the SABC made a net profit of R343m in the 2011/2012 financial year, the state broadcaster said.

"This was achieved against a target of R225m as set out according to the conditions of the government guarantee given to the SABC," spokesperson Kaizer Kganyago said in a statement.

The SABC increased its revenue by 7% and reduced operating spending by 2%.

However, it failed to meet government guarantee targets on reducing its staff.

"The SABC also informed Parliament that the organisation's financial situation is liquid, with R1bn in cash reserves," Kganyago said.

It told the committee it was ready for the transition to Digital Terrestrial Television.



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Comments
  • ianon.ym - 2012-10-12 08:05

    Because they show the same crap over and over and over again and therefore there is no need for them to spend money , other than to feed their already over-sized girth.

      Jo.Davies123 - 2012-10-12 14:13

      So true. Now perhaps they should think about spending the profits on good programming as opposed to incentives and bonuses.

  • David - 2012-10-12 08:24

    I wonder how much profit they would make if we were nt forced to pay a TV license

  • mart.botha - 2012-10-12 08:30

    Why do I not believe this ?. I think we need to see the small print for some very creative accounting !

  • gary.bloom.967 - 2012-10-12 08:32

    I would rather save on petrol and walk to work than lose my DSTV and be forced to watch crappy public broadcasting.

  • mshiniboys - 2012-10-12 08:56

    Good, now they must pay back the bail out amount that they got from our tax money.

  • lerato.kay.3 - 2012-10-12 09:00

    Well done SABC, profit at last and thanks for not firing people, it’s a cold world out there

  • Daniel Mah - 2012-10-12 09:24

    wow impressing

  • rob.gunning.1 - 2012-10-12 12:11

    TV sucks!

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