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Johannesburg - Media group Johncom (JCM) said on Thursday that its advertising revenue growth will slow in the year to March
2008 due to a higher interest rate environment.
"Since March 2007 consumer spend continued to be impacted by the tightening interest rate cycle and the introduction of the National Credit Act. This had an impact on advertising spend in recent months," said Mashudu Ramano, chairperson of Johncom.
Ramano was speaking at the company's general annual meeting.
Ramano added that that the company had created a human resources and transformation committee, which would champion empowerment issues at board level and ensure that the company's transformation and empowerment plans were implemented.
- I-Net Bridge
