TheTimes.co.za: BDFM, comprising Business Day and the Financial Mail, incurred a loss of R9-million against last year’s R7-million profit, mainly due to development costs, whereas losses at The Times are narrowing.
Digital businesses now contribute 23% of earnings before interest and tax, calming sceptics who have accused the company of failing to enter that arena.
Khulekani Dlamini believes Avusa should realise margins of at least 12% or higher, given some of the brands in its stable.
SHOOT: AVUSA has to import its oil-based ink, and machinery spares - these costs are likely to remain high. Naspers achieved 29% revenue growth. Caxton releases its results in August.
Good news from the PwC report: from 2009 to 2010, compound annual growth in entertainment and media is expected to grow 8.7%.
Avusa’s media unit posted a revenue gain of 6% in spite of the tough economy.