Listed media company, Moneyweb has reported an operating loss of R3.37 million for the year ended June 2014, from a prior profit of R2.7 million in 2013, as a result of declining sales.<\/p>\n
The group said that revenue declined year-on-year by over R10 million, to R23.5 million, mostly due to the termination of a Looklocal contract in the prior year which contributed
\nR9.235 million to FY2013 revenue.<\/p>\n
The resulting difference of a just over R1.5 million decrease in revenue was due to lower than expected sales across Moneyweb’s media platforms, the group said.<\/p>\n
“Moneyweb has as its medium term goal to improve its sales position and start turning a profit throughout its business. We realise this is no small task and therefore are constantly looking for ways to improve both on the sales and expense side,” the group said.<\/p>\n
Moneyweb said it will be re-locating to cheaper premises and will utilise the office move to further cut or effectively manage costs.<\/p>\n
The Moneyweb.co.za website attracted 44% more unique visitors in June 2014 than it did in June 2013.<\/p>\n
The website is nearing the monthly four million page impressions and 450,000 unique
\nvisitors milestones, it said.<\/p>\n
The group also launched its new daily digital newspaper known as Moneyweb Today, catering for the investor, shareholder and potential investors in the South African stock market.<\/p>\n
This newspaper is attracting a daily readership of between 6,000 and 8,000 individuals, with the company hoping to attract sales revenue from this business going forward.<\/p>\n
Moneyweb has launched legal proceedings against Media24 and its News24\/Fin24
\nwebsites, for an order declaring that in relation to seven Moneyweb articles which
\nwere copied from our website, Media24 infringed Moneyweb’s copyright and competed
\nunlawfully against Moneyweb.<\/p>\n
Moneyweb claims that Fin24 has plagiarised its articles and has contravened
\ncopyright.<\/p>\n
Media24 has denied the allegations, claiming that copyright does not subsist in the
\nreporting of news, and that Moneyweb indulges in the same practices as Media24.<\/p>\n
Moneyweb has filed its replying affidavit and the matter will proceed to court, for
\njudicial determination in due course.<\/p>\n
Looking ahead, Moneyweb said it will pursue radio revenue-generating content provision to the South African broadcasting market.<\/p>\n
Moneyweb feels \u201ccostly\u201d litigation in Media24 battle<\/strong><\/a><\/p>\n Moneyweb sees earnings slide, hits out at wrongdoers<\/strong><\/a><\/p>\n