owner eMedia Holdings has blamed Eskom’s load shedding in part a hit to its earnings in its latest reporting period.
Load shedding contributed to a decrease of 5% in “average minute rating”, or AMR, for e.tv compared to the same period a year ago. However, that compared to an industry-wide decline of 16.5%. Eskom’s inability to supply electricity reliably, coupled with an “already depressed economy”, led to “many key advertisers reducing spend”.
Despite this, revenue was still up, albeit by only 2.1% — to R1.52-billion. The board has declared an interim cash dividend of 21c .
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Load shedding hits all our earnings. takemyword