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AFRICAN MEDIA ENTERTAINMENT LIMITED - Unaudited Interim Results for the six months ended 30 September 2019

Release Date: 22/11/2019 14:34
Code(s): AME     PDF:  
Wrap Text
Unaudited Interim Results for the six months ended 30 September 2019

African Media Entertainment Limited
Registration number 1926/008797/06   
JSE code: AME   ISIN number: ZAE 000055802

for the six months ended 30 September 2019

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 2019.

  -   Revenue            down    -2% at R131,4 million
  -   Profit after tax   down    -142% to -R6,4 million
  -   EPS                down    -149% to -82,5 cents
  -   HEPS               down    -35% to 109,0 cents
  -   Dividend: Nil (prior year: 80 cents gross)

The 149% decline in earnings per share from 168,4 cents to -82,5 cents is mainly as a result of the
deconsolidation of Classic FM South Africa (Pty) Ltd from the group and the resultant loss incurred from 
the deemed disposal.

The 35% decrease in headline earnings per share from 168,5 cents to 109,0 cents ignores the loss incurred
from the disposal and reflects the tough economic climate.

This short-form announcement is the responsibility of the directors and is only a summary of the information
in the full announcement. The full announcement was released on SENS on 22 November 2019, and can
be found on the company's website at 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.

ACG Molusi                                              AJ Isbister
Independent Non-executive Chairman                      Financial executive

22 November 2019                                         

Independent non-executive directors                    
ACG Molusi (Chairman)                                  
J Edwards                                              
MJ Prinsloo                                            
N Sooka                                                
KW Thipe 

Executive directors                                    
DM Tiltmann (Chief Executive)                          
AJ Isbister (Financial executive)                      

Company secretary
C Roberts

Registered office
Block A, Oxford Office Park
No. 5
8th Street
Houghton Estate
(PO Box 3014, Houghton, 2041)

Arbor Capital Sponsors (Pty) Limited

Transfer secretary
Computershare Investor Services (Pty) Limited

Date: 22/11/2019 02:34:00
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