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Unaudited Interim Results for the six months ended 30 September 2020
African Media Entertainment Limited
Registration number 1926/008797/06
JSE code: AME ISIN: ZAE 000055802
AFRICAN MEDIA ENTERTAINMENT UNAUDITED INTERIM RESULTS
for the six months ended 30 September 2020
African Media Entertainment Limited, a broadcast company listed in the Media and Entertainment sector of
the Johannesburg Stock Exchange, with a radio footprint across central South Africa and the Eastern Cape,
released its results for the six months ended 30 September 2020.
Revenue Down (31)% at R90,7 million
Operating profit before depreciation Down (58)% to R7,9 million
Profit attributable to equity holders Up R6,5 million loss to R518 000 profit
Headline earnings Down (94)% to R519 000
EPS Up 108% to 6,5 cents
HEPS Down (94)% to 6,6 cents
During the period under review, revenue from continuing operations declined significantly as a result of the
devastating effect of the COVID-19 pandemic on the world economy and the media industry.
Profit attributable to equity holders increased from a loss of R6,5 million to a profit of R518 000. The loss in the
prior year is mainly as a result of the deconsolidation of Classic FM South Africa t/a Classic 1027 from the group
and the resultant loss incurred from the deemed disposal of the station.
Headline earnings declined by 94% from R11 million to R519 000 and headline earnings per share decreased
by 94% from 109 cents to 6,6 cents which arose from substantially diminished advertising revenue due to the
COVID-19 pandemic.
This short-form announcement is the responsibility of the board of directors. The short-form announcement is
only a summary of the information in the full announcement released on SENS on 24 November 2020 and does
not include full or complete details. The information contained in this announcement has not been reviewed
or reported on by the company's auditors. The full announcement can be found on the company's website at
www.ame.co.za and can also be accessed using the following JSE link:
https://senspdf.jse.co.za/documents/2020/JSE/ISSE/AME/AMEIR2020.pdf
Copies of the full announcement may also be requested at the company's registered office, at no charge, during
office hours. Any investment decision should be based on the full announcement published on SENS and on
the company's website. In line with the company's dividend policy, African Media Entertainment Limited has
not declared an interim dividend.
The condensed unaudited consolidated interim financial statements for the six months ended 30 September 2020
have not been reviewed and reported on by the group's external auditors, BDO South Africa Incorporated.
By order of the board
ACG Molusi AJ Isbister
Independent Non-executive Chairman Financial director
24 November 2020
Directors
Independent non-executive directors:
ACG Molusi (Chairman)
J Edwards
MJ Prinsloo
N Sooka
KW Thipe
Executive directors:
DM Tiltmann (Chief Executive)
AJ Isbister (Financial director)
Company secretary
C Roberts
Registered office
Block A, Oxford Office Park
No. 5, 8th Street
Houghton Estate
Johannesburg, 2198
(PO Box 3014, Houghton, 2041)
Sponsor
AcaciaCap Advisors (Proprietary) Limited
Transfer secretary
Computershare Investor Services (Proprietary) Limited
Auditors
BDO South Africa Incorporated
www.ame.co.za
Date: 24-11-2020 04:45:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
