Sasani reports over 70% rise in earnings

Media and communications investment holding group Sasani Ltd (SSA) has reported a 76% rise in its headline earnings per share (HEPS) for the year to end-June 2004 to 18.7 cents from 10.6 cents a year earlier. The group declared a total dividend for the year of 5 cents per share, compared to nil a year earlier.
Sasani is South Africa's largest service provider of facilities to the local commercial and film production sector.

It is also the biggest producer of video-based digital education in Africa after acquiring a 50% stake in a joint venture with Kagiso Education Television.

Announcing its final results on Thursday, Sasani said turnover had risen 47% in difficult market conditions, to 287 million rand from 196.1 million rand a year earlier.

The group said much of the improved performance was attributable to more feature film productions and its new digital educational initiatives in Ethiopia, which more than offset the negative effect on the group of reduced international commercial production in South Africa (due to the strong rand) and the increased competition in the Cape Region.

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