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Johannesburg - Moneyweb [JSE:MNY] has reported a net loss of R3m for the financial year which ended June 30 2015.
The previous financial year it reported a net loss of R2.6m.
In the 2015 financial year there was a basic and diluted headline loss per share 2.83 cents, compared to the basic and diluted headline loss per share of 2.47c in the previous financial year.
Revenue, however, increased from R23.5m in the previous financial year to R25.5m in the 2015 financial year.
Moneyweb said in a statement that in its experience there has never been a more volatile time in South African media.
"Traditional print players are being disrupted and while digital technology offers a wealth of opportunities, very few businesses are effectively monetising their platforms," the company said.
"South African digital media players are no longer just competing against each other, but are facing a relentless challenge from the likes of Google, Facebook and LinkedIn for advertising revenue. Low-cost, programmatic or network advertising buying is an additional threat to a business which is built around original content creation."
The company said its full year loss is due to a weak advertising environment, legal costs associated with its case against Media24, its investments in its Adlip video unit as well as new digital properties.
"Having delivered a strong first half of the financial year, this result is below expectation. However we believe that our shareholders will ultimately benefit from the investments made in editorial resources, our sales function and our new offerings," the company said.
No dividend has been declared.
* Fin24 is part of Media24.
