Avusa has posted increased profits for the year to March 31, 2009, the media group said on Thursday.

Revenue from continuing operations was up eight percent to R4.875-billion and profit after tax from continuing operations was up seven percent to R290-million.

Positive contributions were made by the disposal of both its Kenyan and Nigerian businesses which stemmed related operational losses and realised a R62-million profit on sale.

"These are very credible results considering the challenging economic environment in which we operate," Prakash Desai, group CEO, said.

Avusa — which owns newspapers, magazines, I-Net Bridge and Career Junction — said it continued to pursue long-term strategies for profitability and growth.

"With the current focus on cash flows, operational efficiencies, cost reductions and consolidation, we remain cautiously confident of delivering a satisfactory level of profitability," it said.

A maiden dividend of 60 cents per ordinary share was declared.

Sapa

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