Johncom posts excellent results

Robert Laing

Robert Laing

South Africans are reading more and going to the movies more often, Johnnic Communications' results for the year ended March showed.

The combined revenue of Johncom's eight divisions grew 17percent to R5,4billion.

Operating profit before exceptional items increased by 45percent to R644million des-pite a R70million loss posted by its Africa division.

Shareholders will receive a dividend of R1,20 a share, which is 20percent up from R1 last year.

Johncom's newspapers, magazines, and other businesses in its media divisions grew revenue by 20percent to R1,9billion and operating profit by 23percent to R299million.

"The Sowetan and SundayWorld continued to enjoy robust circulation and advertising growth as they reaped the benefits of ongoing investment in these titles," chief executive Prakash Desai said.

Exclusive Books and Nu Metro cinemas housed in Johncom's retail division increased operating profit by 58percent to R60million on the back of 17percent higher sales of R897million. Higher attendances and average ticket prices boosted Nu Metro's box-office revenues, the results said.

The books and map division more than doubled operating profit to R54million, with a 26percent growth in turnover to R394million.