Listed media company Moneyweb has reported an operating profit of R245,000 for the six months ended December 2014, from a prior loss of R1.649 million.
This turn-around arose from an increase in revenue of 5.97% and a decrease in cost
of sales and operating expenses of 7.1%, the group said on Wednesday (19 March).
“Moneyweb has grown its revenue through event activations and cross platform selling,” it said.
The company generated revenue of R14.4 million and a net profit of R513,000 over the
period, compared to a net-loss of R1.4 million for the previous corresponding period.
Moneyweb reported a basic and diluted headline earnings per share of 0.48 cents, from a loss of 1.30 cents per share in 2013.
“This improved operating performance has been driven by a more focused sales effort
coupled with tight cost controls. Our decision to relocate our head office from
Melrose Arch to Houghton has created significant savings which started to come
through in the latter part of the year,” the group said.
Moneyweb.co.za, it said, continues to grow and is consistently serving 4 million page
impressions each month and reaching more than 400,000 visitors.
Moneyweb noted that its litigation battle with Media24 and its Fin24 business unit is still ongoing.
“We argue that they have infringed on our Intellectual Property (IP) and taken advantage of our own investment in financial journalists to further their coverage and reproduced our work and presented it as their own. Media24 has denied the allegations, claiming
that copyright does not subsist in the reporting of news.”
Both Moneyweb and Media24 have filed their Heads of Argument. The matter is expected
to be heard in court in the first week of May 2015.
Looking ahead, Moneyweb identified the following key opportunities:
- Our digital newspaper Moneyweb Today has gained traction and apart from being one of the fastest growing digital publications in the business and finance sector, is also becoming a regular outlet for financial results for JSE-listed businesses;
- We will be running the inaugural Money Expo in 2015 which alongside our other event properties are expected to be both profitable and an excellent opportunity to interact with Moneyweb readers;
- During 2015 we will roll out exciting projects for financial content in IsiZulu (Ezemali), financial education (Moneyweb Masterclass) as well as crowd-funding and video related content.
“It is our stated intention to grow our turnover aggressively over the next 18 months and look to grow organically and by way of investment,” it said.