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TMG Media group expects a loss

March 7 2013 at 08:00am

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Times Media Group (TMG) has advised its shareholders that it expects a loss of 17 cents in earnings a share in the six months to December from 42c in the same period in 2011 and headline earnings a share to remain flat at 28c. The results for the half-year include a R26 million loan impairment and net exceptional charges of R130m, of which R85m was added back in the determination of headline earnings. TMG will release its half-year results next week. The company, which owns 50 percent of Business Day and Financial Mail and 100 percent of the Sunday Times, recently announced it was proposing to adopt a management incentive plan. Shares declined 0.14 percent to R14 yesterday. – Nompumelelo Magwaza


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