South Africa's Times Media jumps on earnings

Reuters

Shares of South Africa's Times Media Group jump more than 10 percent to 21.75 rand after the newspaper publisher flags that it swung to a profit in the first half.

Times expects diluted earnings of 373 cents per share in the six months to end-December, from a loss of 17 cents a year earlier. The company did not give a reason for the return to profit.

Its shares are the top percentage gainer on Johannesburg's All-share and on track to make their biggest intra-day gain since August.

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