- African Media Entertainment Limited reports strong financial performance for the year ended 31 March 2023.
- Revenue increased by 7% to R268.7 million, with operating profit up by 16% to R46.2 million.
- Final dividend of 250 cents per ordinary share (gross) declared, reflecting a 25% increase from the previous year.
African Media Entertainment Limited, a leading broadcast company listed on the Johannesburg Stock Exchange, unveiled its impressive financial results for the fiscal year that ended on 31 March 2023. The company showcased remarkable growth across key financial indicators, including revenue, operating profit, net profit, and dividends.
African Media Entertainment Limited, with an extensive radio footprint spanning central South Africa and the Eastern Cape, has experienced a notable 7% increase in revenue, reaching an impressive R268.7 million. This growth can be attributed to the company’s successful operations in the Media and Entertainment sector.
Operating profit soared by an impressive 16%, with African Media Entertainment reporting R46.2 million compared to the previous year’s R39.8 million. The surge in profitability reflects the company’s effective management and its ability to capitalize on market opportunities.
The net profit before tax witnessed a significant upswing of 23%, reaching R56.3 million. Furthermore, the profit attributable to equity holders increased by an impressive 25% to R36.6 million, highlighting the company’s commitment to delivering value to its shareholders.
Headline earnings, a critical measure of profitability for companies, rose by 25% to R36.5 million, demonstrating African Media Entertainment’s sustained growth and operational efficiency. The company also recorded a commendable increase in earnings per share (EPS) and headline earnings per share (HEPS), both growing by 30% to 485.5 cents and 484.5 cents, respectively.
In a move welcomed by shareholders, the board of directors of African Media Entertainment Limited has declared a final dividend (dividend no 20) of 250 cents per ordinary share (gross) for the year ended 31 March 2023. This represents a significant increase from the previous year’s dividend of 280 cents (gross). Shareholders exempt from Dividends Withholding Tax (DWT) will receive the gross dividend amount, while shareholders liable for DWT will receive the net dividend amount of 200 cents per ordinary share.
The company encourages shareholders and investors to access the full announcement, including the auditors’ review report and accompanying financial information, on its official website at www.ame.co.za or at the registered office during office hours. African Media Entertainment Limited emphasizes that any investment decisions should be based on the complete announcement published on SENS and the company’s website.
African Media Entertainment Limited, with its strong presence in the broadcast industry, continues to deliver engaging content to audiences across central South Africa and the Eastern Cape. The company’s outstanding financial performance in 2023 underscores its position as a key player in the Media and Entertainment sector.