Union Alliance Media (UAM) increased headline earnings per share by 26% and net profit before tax by 32% for its financial year to December 2000.
JSE-listed UAM is a technology media company focusing on technologies, which facilitate new, cost-effective delivery platforms. It operates across four divisions: television, radio and telecommunications; IT and electronic media; advertising and marketing; and publishing.
The company also has a 22.5% equity stake in Nextcom, one of the unsuccessful bidders for the third cellphone licence, which was won by Cell C.
UAM`s turnover increased 14% to R125 million, net profit rose 13% to R22.7 million and headline earnings per share increased 26% from 8.2c to 10. 3c.
CEO Anthony Glass says organic growth was the major contributor to the earnings increase.
IT and electronic media contributed 32% of turnover and 35% of attributable earnings.
"In light of the award of the third cellphone licence, the investment in Nextcom has been written off, despite the expectation that Nextcom will be successful in the judicial review scheduled to begin on 2 May 2001," says Glass.
Tangible net asset value increased 15% from 65.8c a share to 75.4c.
Glass says the roll-out of Twilight, a closed channel broadcasting service, to 600 Absa branches has begun. Twilight will also be introduced in Barclays Bank branches throughout Africa, with other international initiatives in the pipeline.
The group is confident that it will perform well in the next six months.
"All companies are positioned to deliver continued solid organic growth. Other prospects including southern African radio opportunities, the third cellular licence and strategic acquisitions and partnerships could further enhance returns," says Glass.
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