Annual report 2009

Financial Highlights 2009

• Revenue up 19%
• Headline earnings up 6%
• Cash generated from operating activities up 20%
• Final dividend 27 cents per share

Operational highlights

• Broad range of media assets provide diversification benefits.
• Strong balance sheet with R173.4m cash reserves.
• Jacaranda 94.2 and East Coast radio maintained operating margins.
• Significant increase in new media applications.
• Improved product mix enabled LexisNexis’ margin to increase.
• Urban Brew Studios’ performance ahead of expectations.

Salient features

• Resilient business model demonstrated against tough economic backdrop.
• 6% increase in headline earnings.
• 11% increase in dividend to 59 cents per share.
• Several niche acquisitions diversified revenue stream.
• Focus on pursuing opportunities to maximize returns.