Picture: BLOOMBERG/SUSANA GONZALEZ
Picture: BLOOMBERG/SUSANA GONZALEZ

Tiso Blackstar, the former publisher of Business Day and the Sowetan, said on Wednesday it swung into a loss in its six months to end-December, during which it disposed of some of its media interests.

The group expects headline earnings per share (Heps) to fall as much as 139% to 8.37c per share, and Heps from continued operations to fall as much as 91%, without going into detail in its trading update. The group is expected to release its results on Friday.

Heps is a widely used profit measure in SA, stripping out one-off items to give a better indication of underlying earnings.

In November 2019 Tiso completed its sale of its print, broadcasting and content businesses in SA, Ghana and Kenya to Lebashe for R1.05bn. 

In morning trade Tiso’s share price was unchanged at R3.21, having lost 21.52% in the year to date.

gernetzkyk@businesslive.co.za