Chairman's statement
The year to June 2000 presented Primedia with a new set of challenges,which the CEO covers in his report.Many of these were the result
of external difficulties such as a tight consumer market in South Africa.Some were structural issues such as the group ’s over-exposure to
cinema exhibition,the unacceptable levels of development costs incurred in the business-to-business operations of Metropolis*and the
building of our overseas cinema chain.
Chief Executive’s statement
The financial year to June 2000 was a difficult year for the group.Under-performance in some of the group ’s divisions together with higher
than expected development losses from Metropolis*and Ster Century Europe resulted in a drop in headline earnings to 49 cents per combined
unit (1999:82 cents).
The year to June 2000 presented Primedia with a new set of challenges,which the CEO covers in his report.Many of these were the result
of external difficulties such as a tight consumer market in South Africa.Some were structural issues such as the group ’s over-exposure to
cinema exhibition,the unacceptable levels of development costs incurred in the business-to-business operations of Metropolis*and the
building of our overseas cinema chain.
The financial year to June 2000 was a difficult year for the group.Under-performance in some of the group ’s divisions together with higher
than expected development losses from Metropolis*and Ster Century Europe resulted in a drop in headline earnings to 49 cents per combined
unit (1999:82 cents).
