JSE-listed Johnnic Communications (Johncom) has shown good growth for the six months to September after it unbundled its 34.1% holding in M-Cell in July, leaving the company active in the entertainment and publishing arenas.
Revenue from continuing operations increased by 12% to R1.3 billion and EBITDA (earnings before interest, taxation, depreciation and amortisation) also grew from R34.5 million to R58.7 million, an increase of 70%.
Basic headline earnings for the group came in at 35c, compared to a 52c loss in 2000, a growth of 167%.
Johncom says it has shown growth in its digital media division by focusing on the business-to-business market as well as its diversification into the e-learning market with the launch of Johnnic Learning.
Johncom also attributes growth to a minimising of its exposure to the consumer Internet market.
While the digital media division grew its revenue to R39.1 million, it has still reported losses on EBITDA and headline earnings levels of R10.7 million and R20.5 million respectively.
The group attributes this to a reflection of "the evolutionary stage of the start-up business".
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