MultiChoice Looks Forward To Profit Surge -Reports
22 November 2019
MultiChoice released a trading statement last week that states that it expects trading profit to reach over $335,000 m for the six months that ended in September 2019, up approximately 20% from the previous period.
The DStv Satellite TV service provider listed on the Johannesburg Stock Exchange (JSE) in February this year, having been emancipated from Naspers.
It commented that compared to its interim results for 2018, the group now expects core headline earnings per share to be around 20% and 25% higher than 352 cents per share.
Trading profit is expected to be at 20% to 25% higher than the previous year’s $261 000 million. On an organic basis, trading profit is likely to be at 30% to 35% higher than the prior year’s reported figure.
MultiChoice said that it expects improved financial performance despite the continued macro-economic headwinds that are faced across the continent, which are grossly impacting consumer disposable income.
The group added that its management had remained focused on strict cost controls to fight against these challenges and continued to decrease losses in the Rest of Africa segment, which has been the most significant contributor to the improvement in overall group performance.
MultiChoice delivers international and local sport and entertainment content to more than 14-million homes in 50 African markets. It also produces over 4,500 hours of local content in 10 studios all across Africa.
Having opened its trading at $6.37 on the 27 February, share in MultiChoice has now reached $8.37 on the JSE.
Source: Business Tech www.businesstech.co.za