OVERVIEW
A number of new investments such as Tradus and Gadu-Gadu are included in our financial results for the first time. We also disposed of some operations. The private education business, Educor, was sold as a going concern. Conditional sale agreements were also concluded for the disposal of the Greek and Cypriot pay-television business (NetMed) to ForthNet SA, a leading Greek telecommunications company. Offers of purchase have been requested for the connectivity business, MWEB, and are currently being evaluated.
Financial performance over the past year is analysed in the financial review . In summary, revenues grew by 19% to R20,5 billion, largely driven by the pay-television and internet businesses. Operating profit before amortisation and other gains/losses expanded by 15%, despite increased development costs. Core headline earnings grew by 38% and core headline earnings per N ordinary share increased by 16% to R11,16 during the year. |
