TimesG final results June 2013
Revenue from continuing operations declined to R3.9 billion (R3.95 million). Gross profit was rose marginally to R1.143 billion (R1.14 billion) and profit from operations slumped to R6 million (R172 million). Net attributable profit plummeted to R3 million (R158 million). In addition, headline loss per ordinary share from continuing operations of 16cps (earnings of 5cps).
Now that TimesG is on track with its restructuring and repositioning, management needs to look at growth opportunities for TimesG. With TimesG's acquisition finance at a manageable level management needs to look at growth for the group. Given the highly regulated nature of broadcast media in South Africa, TimesG needs to look elsewhere for growth in these sectors of media. However, any transaction needs to be measured on risk and return and be value-enhancing to the group and its shareholders. The following twelve months are expected to remain challenging given the stretched position of the South African consumer.