LONDON - Catalyst Media Group Plc (AIM: CMX), a stakeholder in Sports Information Services (NASDAQ:III) (Holdings) Limited (SIS), revealed a decrease in its annual profit after taxation to £283,000 for the year ended June 30, 2024, down from £2.6 million the previous year. The company attributes the decline to the reversal of historic impairment charges in 2023. Earnings per share fell to 1.35p from 12.43p, while net asset value per share decreased from 175p to 149p.
The company's associated entity, SIS, reported a turnover of £234.1 million for its financial year ending March 31, 2024, a slight increase from £230.7 million in 2023. However, SIS's operating profit dropped to £3.5 million from £5.4 million, and profit after taxation also decreased to £1.9 million from £4.9 million.
Despite the profit decline, CMG received a share of dividends from SIS totaling £6.79 million during the year, leading the board to declare a final dividend of approximately £0.84 million, or 4 pence per CMG ordinary share. This dividend is contingent on shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for January 17, 2025.
Looking ahead, SIS is focusing on expanding its content creation and racing business, with notable progress in the US market. However, SIS anticipates a decline in profitability for the next financial year due to changes in its Greyhound rights and investments in content creation. Despite this, SIS maintains a cash position of approximately £5.2 million as of October 31, 2024.
CMG shareholders can expect the final dividend on January 31, 2025, if they are registered by January 17, 2025, with the ex-dividend date set for January 16, 2025. The company's full Annual Report and Financial Statements will be available on its website.
This article is based on a press release statement from Catalyst Media Group Plc.
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