Times Media jumps on earnings

Times Media jumps on earnings

2014-03-11 10:50

Johannesburg -  Shares of Times Media Group [JSE:TMG] jumped more than 10% to R21.75 after the newspaper publisher flagged that it swung to a profit in the first half.

Times expects diluted earnings of 373 cents per share in the six months to end-December, from a loss of 17c a year earlier. The company did not give a reason for the return to profit.

Its shares are the top percentage gainer on Johannesburg's All-share and on track to make their biggest intra-day gain since August.