Media24 posted excellent results for the financial year, growing revenue 2% to R4.8bn and reducing the trading loss by 54% to R152m – both year on year (YoY). This performance was underpinned by growth in ecommerce revenue, exceptional school textbook orders and stringent cost management throughout the company. This offset the impact of a strained economy and continued structural declines in print media. Our growth portfolio (detailed below) performed especially well by more than halving its trading loss YoY as our investment in ecommerce (online retail) and streamlining our digital media operations started to deliver results.
A summary of the results is available here.