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eMEDIA HOLDINGS LIMITED - Unaudited consolidated condensed interim results announcement for the period ended 30 September 2020

Release Date: 19/11/2020 17:04
Code(s): EMN EMH     PDF:  
Wrap Text
Unaudited consolidated condensed interim results announcement for the period ended 30 September 2020

eMedia Holdings Limited
(Incorporated in the Republic of South Africa) (Registration number 1968/011249/06)
Ordinary shares (share code: EMH - IZIN: ZAE000208898) N ordinary shares (share code: EMN - IZIN: ZAE000209524)
(eMedia Holdings or the company or the group)


                                                      SEPTEMBER 2020  SEPTEMBER 2019          %
                                                              R000's          R000's*  movement
Revenue                                                    1 048 637       1 222 383     -14,2%
Operating Profit                                              14 447         147 611     -90,2%
Profit from the period from continuing operations              8 131         103 559     -92,1%
Net asset value per share (cents)                                577           1 044     -44,7%
Basic (Loss)/Earnings per Share (cents)                         (1,12)         14,80    -107,6%
Headline (Loss)/Earnings per Share (cents)                      (0,46)         15,44    -103,0%
Dividends Declared per share (cents)                               -              10    -100,0%

* Restated for discontinued operations

The impact of the Covid-19 pandemic has resulted in the group ending the period reflecting a profit from continuing operations of R8.1 million compared
to a restated profit of R103.6 million in the prior period, a decrease of 92%. Both Television and Radio advertising revenue have been severely impacted by the 
various lockdowns both internationally and locally. Year-on-year the television advertising cake has shown a decrease in excess of 30% whilst the group 
went back 20% in advertising revenue, thus substantially better then the market. Advertising being the major source of revenue for the group has had the biggest 
impact on the results with the revenue ending the period on R687.3 million compared to the prior year of R862.5 million, a difference of R175.2 million.

On a positive note, advertising revenue has since lockdown level 1, begun to show a resurgence and the group is confident that the worst impact on revenue
through Covid-19 has already been absorbed.

This unaudited short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement and
does not contain full or complete details.

Any investment decisions by investors and/or shareholders should be based on information contained in the full unaudited announcement which can be found on the 
Company's website at and also at the following link:

The full unaudited announcement is available at 5 Summit Road, Dunkeld West, Johannesburg, 2196 and at the offices of the sponsor, free of charge,
to investors and/or shareholders, during office hours (09:00 to 17:00) from Monday to Friday.

For and on behalf of the board 

Mahomed Khalik Sherrif                           Antonio Lee
Chief Executive Officer                          Financial Director

19 November 2020

Directors: JA Copelyn* (chairman), K Sherrif (chief executive officer), AS Lee (financial director), TG Govender*, Y Shaik*, VE Mphande*^,
L Govender*^, RD Watson*^

*Non-executive ^Independent

Company Secretary: HCI Managerial Services Proprietary Limited

Registered Office: 5 Summit Road, Dunkeld West, Hyde Park, Johannesburg, 2196, Private Bag X9944, Sandton, 2146

Sponsor: Investec Bank Limited, 100 Grayston Drive, Sandton, Sandown, 2196

Transfer Secretary: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, Private Bag X9000, 
Saxonwold, 2132

Auditors: BDO South Africa Incorporated, Wanderers Office Park, 52 Corlett Drive, Illovo, 2196, Private Bag X10046, Sandton, 2146

Date: 19-11-2020 05:04:00
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