Wrap Text
Reviewed results for the year ended 31 March 2020
African Media Entertainment Limited
Registration number 1926/008797/06
JSE code: AME
ISIN: ZAE 000055802
REVIEWED RESULTS for the year ended 31 March 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 year ended 31 March 2020.
Revenue flat at R262,7 million
Operating profit down (34)% to R46,4 million
Net profit before capital items and tax down (35)% to R52,6 million
Profit attributable to equity holders down (54)% to R10,3 million
Headline earnings down (31)% to R30 million
EPS down (54)% to 130,4 cents
HEPS down (30)% to 378,3 cents
Due to the tough business conditions that we are currently experiencing, no final dividend was declared for the
year ended 31 March 2020.
Group revenue from continuing operations is consistent with prior year at R 262,7 million (2019: R263,5 million)
which reflects the difficult trading conditions in the current year. Profit attributable to equity holders of the parent
declined by 54% from R22,5 million in 2019 to R10,3 million in 2020 which has resulted in a 53,6% decline in
earnings per share from 280,8 cents to 130,4 cents. This is mainly as a result of the deconsolidation of Classic
FM South Africa from the group and the resultant loss incurred from the deemed disposal of the station.
Headline earnings declined by 31% from R43,5 million to R30 million and headline earnings per share decreased
by 30,5% from 544,1 cents to 378,3 cents due to the 2019 results containing a material and non-recurring gain
as a result of the reversal of many years of industry specific levies of the radio stations. In order to compare
the results more meaningfully with the prior year, had the reversal of levies during the 2019 financial year
been eliminated, headline earnings from continuing operations would have declined by 7% from R35 million to
R32,4 million and headline earnings per share from continuing operations would have declined by 7% from
437,3 cents to 408,2 cents.
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 11 June 2020, and can be found
on the company's website at www.ame.co.za. 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.
By order of the board
https://senspdf.jse.co.za/documents/2020/JSE/ISSE/AME/AMEAR2020.pdf
ACG Molusi AJ Isbister
Independent Non-executive Chairman Financial director
11 June 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
Arbor Capital Sponsors (Proprietary) Limited
Transfer secretary
Computershare Investor Services (Proprietary) Limited
Auditors
BDO South Africa Incorporated
www.ame.co.za
Date: 11-06-2020 03:38:00
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