24 Nov 2020 - 3 min read

Unaudited Interim Results for the six months ended 30 September 2020

Unaudited Interim Results for the six months ended 30 September 2020

African Media Entertainment Limited
Registration number 1926/008797/06     
JSE code: AME   ISIN: ZAE 000055802

for the six months ended 30 September 2020

African Media Entertainment Limited, a broadcast company listed in the Media and Entertainment sector of
the Johannesburg Stock Exchange, with a radio footprint across central South Africa and the Eastern Cape,
released its results for the six months ended 30 September 2020.

                                         Revenue     Down     (31)% at R90,7 million
            Operating profit before depreciation     Down     (58)% to R7,9 million
           Profit attributable to equity holders      Up      R6,5 million loss to R518 000 profit
                               Headline earnings     Down     (94)% to R519 000
                                             EPS      Up      108% to 6,5 cents
                                            HEPS     Down     (94)% to 6,6 cents

During the period under review, revenue from continuing operations declined significantly as a result of the
devastating effect of the COVID-19 pandemic on the world economy and the media industry.

Profit attributable to equity holders increased from a loss of R6,5 million to a profit of R518 000. The loss in the
prior year is mainly as a result of the deconsolidation of Classic FM South Africa t/a Classic 1027 from the group
and the resultant loss incurred from the deemed disposal of the station. 

Headline earnings declined by 94% from R11 million to R519 000 and headline earnings per share decreased
by 94% from 109 cents to 6,6 cents which arose from substantially diminished advertising revenue due to the
COVID-19 pandemic.

This short-form announcement is the responsibility of the board of directors. The short-form announcement is
only a summary of the information in the full announcement released on SENS on 24 November 2020 and does
not include full or complete details. The information contained in this announcement has not been reviewed
or reported on by the company's auditors. The full announcement can be found on the company's website at
www.ame.co.za and can also be accessed using the following JSE link:

Copies of the full announcement may also be requested at the company's registered office, at no charge, during
office hours. Any investment decision should be based on the full announcement published on SENS and on
the company's website. In line with the company's dividend policy, African Media Entertainment Limited has
not declared an interim dividend.

The condensed unaudited consolidated interim financial statements for the six months ended 30 September 2020 
have not been reviewed and reported on by the group's external auditors, BDO South Africa Incorporated.

By order of the board

ACG Molusi                                      AJ Isbister
Independent Non-executive Chairman              Financial director

24 November 2020

Independent non-executive directors:            
ACG Molusi (Chairman)                           
J Edwards                                       
MJ Prinsloo                                     
N Sooka                                         
KW Thipe  

Executive directors:                            
DM Tiltmann (Chief Executive)                   
AJ Isbister (Financial director) 

Company secretary                               
C Roberts                                       

Registered office
Block A, Oxford Office Park
No. 5, 8th Street
Houghton Estate
Johannesburg, 2198
(PO Box 3014, Houghton, 2041)

AcaciaCap Advisors (Proprietary) Limited

Transfer secretary
Computershare Investor Services (Proprietary) Limited

BDO South Africa Incorporated

Date: 24-11-2020 04:45:00
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