25 November 2016
Media24 achieved marginal revenue growth and ended the first six months on a trading profit of R171m. The decline in trading profit of 21% against the prior year reflects the impact of lower advertising and circulation revenues from ourtraditional print media businesses, exacerbated by higher input costs on the back of a weaker rand. We continue to drive the migration of our audiences and clients from print to digital platforms through product innovation, mostly on themobile side. Our investments in ecommerce through online fashion player Spree as well as On the Dot’s warehousingand fulfilment business generated strong topline performances, whereas online recruitment portal Careers24 felt the brunt of a lacklustre economy.