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Moneyweb expects headline loss to climb

Cape Town - Moneyweb Holdings announced in a SENS report on Monday that it expects a bigger headline loss and loss per share for the six months ending December compared to the same period for the year 2012.

"Shareholders are advised that it is anticipated that the headline loss and loss per share for the six months ended December 31 2013 will be between 1.25 cents and 1.35 cents per share compared to a headline loss and loss per share of 0.20 cents for the six months ended December 31 2012," it said in the statement. 

Moneyweb operates Moneyweb.co.za, that was founded by Alec Hogg, who resigned in October 2012 citing differences in his and controlling shareholder, Caxton's value systems.

In September, Moneyweb reported a fall in revenue. Moneyweb's audited condensed results for the twelve months ended June 2013 showed a drop in revenue to R34.34m.

At the time, it said due to a change in year end, the results of the financial year were compared to the period of 15 months until the end of June 2012, when the revenue was R44.85m.

The company showed a net loss of R89 000 compared to a net loss of R4.079m in the previous period.

According to the report, it also stated that Moneyweb launched a court application against Fin24 for unlawfully "copying" articles from moneyweb.co.za.

Fin24 has strongly denied Moneyweb's plagiarism charges, saying it did not infringe copyright, compete unfairly or pass off others’ work as its own.

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