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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