The share of online news publisher Moneyweb Holdings has been transferred to the JSE`s media sector, a move the company believes will help position it for future growth.
The group says that being listed in the media sector is also a more accurate reflection of the nature of its operations.
The group, which listed on the JSE`s development capital market in June 1999, began as a purely Internet-based news publisher, but in February this year it bought print-based Prescon Publishing for R5 million.
Prescon is the publisher of several financial and investment newsletters.
Moneyweb also entered a joint venture with Johannesburg radio station Classic FM in June, in terms of which Classic FM hosts and syndicates Moneyweb CE Alec Hogg`s business programme, Classic Business.
In the year to 31 March, Moneyweb achieved an operating profit of R1.4 million on turnover of R4 million, with headline earnings of 2.2c per share.
The Moneyweb share was unchanged at 41c this morning. It opened the year at 50c, rising to a close of 140c in February before falling to current levels.
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