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Shares in African Media Entertainment (AME), whose portfolio includes Moneyweb and radio stations, lifted more than 5% on Friday, when it reported some market share gains and a rise in its full-year dividend of a quarter.
Revenue rose 7% to almost R269 million in the year to end-March, the company said, with a focus on cost control helping headline earnings rise 25% to R36.5 million. The company upped its total dividend by a quarter to R3.50.
Valued at almost R220 million on the JSE, AME owns radio stations such as Algoa FM, as well as specialist radio sales firm United Stations and marketing and content producer MediaHeads 360.
The company said on Friday its United Stations business continued to grow its market share and increase advertiser demand across its full portfolio of media platforms, by "aggressively leveraging the many marketing tools at its disposal, including events, streaming, activations, content and marketing services".
Algoa FM produced "excellent results" and its core profit returned to pre-pandemic levels, with net radio revenue ending the year 12% above budget.
"This performance was achieved despite a magnitude of conditions such as the severe water crisis, failing municipal infrastructure, disruptive power outages and rising inflation, which was further exacerbated by the state of disaster, which was only lifted during April of 2022," it said.
Moneyweb saw revenue growth of 8% year on year, but its performance was below expectations, with the AME saying it was focusing on adding more alternative revenue models to complement the current advertising and subscription streams.
Shares in AME were up almost 5% on Friday morning but have still lost more than 13% in the year to date.
Click here for details about its shares.
