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Unaudited Interim Results for the six months ended 30 September 2023
African Media Entertainment Limited
Registration number 1926/008797/06
JSE Code: AME ISIN Number: ZAE 00005580
("the company") 2
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
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, has pleasure in releasing its results for the six months ended 30 September 2023.
Revenue Up 11% at R 143.1 million
Operating profit Up 34% to R 19.5 million
Net profit before tax Up 25% to R 25.5 million
Profit attributable to equity holders Up 21% to R 14.6 million
Headline earnings Up 27% to R 14.6 million
EPS Up 39% to 207.5 cents
HEPS Up 39% to 207.3 cents
Dividend Unchanged 0% 100.0 cents gross
During the period under review, the group was able to improve its performance in comparison to the comparative reporting period ended 30 September 2022 which was mainly driven by the
renewed revenue initiatives implemented and growth in market share.
For the period ending 30 September 2023, group revenue increased by 11% to R143.1 million from R128.4 million.
As a result, operating profit improved by 34% to R19.5 million from R14.6 million in September 2022.
An unchanged interim dividend of 100 cents per share has been declared (Interim 2022: 100 cents gross).
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
23 November 2023 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/2023/JSE/ISSE/AME/AMEIR2023.pdf
Declaration of interim dividend no 21
The board resolved to declare a dividend (dividend no.21) of 100 cents per ordinary share (gross) for the interim period ended 30 September 2023.
The dividend is subject to the Dividends Withholding Tax ("DWT") that was introduced with effect from 1 April 2012.
In accordance with the provisions of the JSE Listings Requirements the following additional information is disclosed:
* the dividend has been declared out of current profits available for distribution;
* the local Dividend Tax rate is 20%;
* the gross dividend amount is 100 cents per ordinary share for shareholders exempt from DWT;
* the net dividend amount is 80 cents per share for shareholders liable for DWT;
* the company has 7 022 177 ordinary shares in issue ; and
* the company's income tax reference number is 9100/169/71/4.
The following dates are applicable to the dividend:
Last date to trade in order to be eligible for the dividend: Monday, 11 December 2023
Date trading commences ex-dividend: Tuesday, 12 December 2023
Record date: Thursday, 14 December 2023
Date of payment to shareholders: Monday, 18 December 2023
Share certificates may not be dematerialised/rematerialised between Tuesday, 12 December 2023 and Thursday, 14 December 2023, both days inclusive.
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.
The condensed unaudited consolidated interim financial statements for the six months ended 30 September 2023 have not been reviewed and reported on by the company's
external auditors, Mazars.
By order of the board
ACG Molusi AJ Isbister
Independent Non-executive Chairman Financial Director
23 November 2023
Directors Registered office
Non-executive directors: AME Office Park
ACG Molusi (Chairman)* No. 5, 8th Street
DS Qocha* Houghton Estate
J Edwards* Johannesburg, 2198
MA Da Costa* (P.O. Box 3014, Houghton, 2041)
MJ Prinsloo*
KW Thipe* www.ame.co.za
RCH Fedder
SN Ngobese* Sponsor
AcaciaCap Advisors (Pty) Limited
* independent
Executive directors:
DM Tiltmann (Chief Executive Officer)
AJ Isbister (Financial Director) Transfer secretary
Computershare Investor Services (Pty) Limited
Company secretary
C Roberts CA(SA)
Date: 23-11-2023 04:50:00
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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.
