In brief

18 June 2020

Investment

MultiChoice Group, operator of African pay-TV service DStv, reported 38 percent growth in core headline earnings to ZAR 2.5 billion for the year ended 31 March. Free cash flow increased by 59 percent to ZAR 5.2 billion, driven mainly by an improvement in the trading results from the Rest of Africa, a focus on cost containment and a reduction in working capital. Despite global and country-specific macro-economic challenges, the South Africa-based group added 0.9 million 90-day active subscribers, representing 5 percent growth year-on-year. This took the overall subscriber base to 19.5 million.