SOUTH AFRICA — MultiChoice group is expecting its core headline earnings a share for the year to March 31 to improve from last year’s 569 cents.
The group said that it hopes its earnings to rise to between 32 per cent (182cents) and 37 percent (211cents).
The group hopes that Trading profit will be between 25 percent (R2 billion) and 30 percent (R2.4bn) higher than the R8bn reported in the prior year.
On a constant currency basis and excluding mergers and acquisitions, trading profit was expected to be between 40 percent (R3.2bn) and 45 percent (R3.6bn) higher than the prior years reported R8bn.
The group’s financial performance is said to have improved despite challenges faced during the global health crisis.
“Resilient revenue growth, strong cost control, shifts in content costs and the impact of embracing new ways of working as a consequence of Covid-19 allowed the business to offset these challenges,” the group said.
Reduction in losses in the Rest of Africa segment contributed immensely to the group’s performance.
Multichoice had expected that the group’s Headline earnings per share would be between 280 percent (358c) and 295 percent (378c) higher than the prior year’s Heps of 128c.
The key reasons were an improvement in trading performance and unrealized foreign exchange gains because of stronger local currencies, primarily the South African rand.
MultiChoice operates DStv, a major service in Sub-Saharan Africa and GOtv, a minor service operating in over 9 countries as well as Showmax service.