Moneyweb makes R314 000 profit

Johannesburg - Moneyweb [JSE:MNY] has made a profit before tax of R314 000 for the six months ended 31 December 2016.

This has mainly been achieved by a 17.15% (R2.510m) increase in revenue from the previous 6-month period.

The company generated revenue of R17.043m over the 6-month period.

Moneyweb invested in diversifying its revenue streams and says this has started to pay dividend. Moneyweb invested in growing its radio properties by taking on additional airtime on RSG and Radio 2000. A headline sponsor for the RSG Geldsake programme was obtained which assisted in tremendous growth in radio revenue.

There has been an 86.16% increase in radio revenue from the previous 6-month period. There has also been growth in Moneyweb's revenue from events held and from the video production division during this reporting period. Digital revenues have, however, declined on the Mineweb website due to the global mining recession.

There have also been declines in revenue from The Citizen for content production and in its digital newspaper Moneyweb Today. There was increased revenue in video production, events and increased air-time on the SABC radio stations. Digital revenue declined slightly due to less advertising in the mining sector and in the investor relations sector.

Moneyweb intends to further investment in its video production unit from a capital expenditure perspective.

No dividend has been declared for the interim period.