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Byline: Itumeleng Mahabane
SA business turns around Primedia CEO William Kirsh's decision to bring on board Ferdi Gazendam as a joint chief operating officer last year has paid off handsomely, as the interim results for the six months to December reveal. Gazendam's task was to sort out Ster-Kinekor, the movie group that has been an albatross around the group's neck, and his success is shown by an 11% rise in earnings before interest, tax and depreciation (Ebitda) for the SA operations. That compares with a 15% drop for overall group operations because of the continuing problems with Primedia's operations in Europe and the Middle East.
Ster-Kinekor's revenues …