Aochamub presents NBCs financial results

08 Jul 2013 09:30
WINDHOEK, 08 JUL (NAMPA) - The Director-General (DG) of the Namibia Broadcasting Corporation (NBC) says the national broadcaster's revenue increased by 10 per cent, or N.dollars 67,9 million, from last year.
Albertus Aochamub, who presented the company's preliminary financial results for the year 2012/13 in the capital on Monday, said NBC?s total expenditure, contained at N.dollars 225 million, increased by five per cent over the previous year.
The company's overall deficit stands at N.dollars 2,3 million, compared to a deficit of N.dollars 48,5 million in 2011/12 (before depreciation).
Aochamub noted that direct operational expenditure on broadcasting activities increased by nine per cent to N.dollars 35,8 million during the 2012/13 financial year.
NBC?s overall employment-related costs rose by four per cent to N.dollars 148,9 million, with the DG saying pay rises have been partially offset by savings in overtime and a reduction in leave accruals.
Advertising revenue stood at N.dollars 38,5 million, which translated into an increase of two per cent from last year.
According to Aochamub, there was a decrease of N.dollars 13 million, or 19 per cent, in television licence revenue, compared to last year.
An increase of 100 per cent in transmitter rental income to over N.dollars 9 million due to a clean-up exercise around contracts and billing was also recorded in the 2012/13 financial year.
Repair and maintenance costs of N.dollars 4 million represented an increase of 67 per cent, while other operational expenditure amounts to N.dollars 34 million, or a reduction of five per cent.
Aochamub said employment costs, which stood at N.dollars 148,8 million during the 2012/13 financial year, is still the NBC's main cost component, representing 68 per cent of the company?s total costs.
He added that there was a reduction in overtime year-on-year. Therefore, overtime as a component of employment costs is also reducing.
?The total number of employees has remained stable. We have 496 employees in total, of which 399 are permanent and 97 on contract, with costs excluding freelancers,? he added.
The NBC DG then stated that the Government subsidy now covers all employment-related expenses, while in the previous year, only 74 per cent of employment expenses were covered by that subsidy.