Tiso Blackstar Group decreases headline losses by 96%
BusinessLIVE’s owner, Tiso Blackstar Group, narrowed its headline loss per share to 12.56c for the year to end-June from 339.12c.
The group raised its final dividend to 4.66c from 4.47c in the prior year, according to its results released on Wednesday.
Headline losses decreased to R33.5m from R906m in the prior period, with core revenue growing to R4.2bn from R1.7bn.
The final dividend, equating to R12.5m, is still subject to approval at the next annual general meeting, the date of which has yet to be announced. A special dividend of R40m will be paid once the sale of its 23% stake in Kagiso Tiso Holdings for R1.5bn is completed, the company said.
"The launch of the BusinessLIVE subscription paywall grew the group’s subscription base by more than 10% across our business titles in under three months," Tiso Blackstar said. "Post-year-end, the redesigned Sunday Times and Times newspapers began introducing a new paywall to their online products. This mirrors the BusinessLIVE strategy, as well as the global trend towards paywalls and growing ‘paid-for’ reader revenue."