Pay-television operator MultiChoice Group, which owns DStv, SuperSport and Showmax, said on Thursday that it has bucked weak economic conditions, and expects to report a big leap in profit for the six months to 30 September 2019.
Core headline earnings per share will be between 20% and 25% higher than the R3.52 reported in the interim period a year ago, it said in an update to investors.
Trading profit is also expected to be between 20% (R800-million) and 25% (R1-billion) higher than the prior year’s R3.9-billion.
On an organic basis (reflecting results on a constant-currency basis, excluding any mergers and acquisitions), trading profit is expected to be between 30% (R1.2-billion) and 35% (R1.4-billion) higher than the previous period’s reported R3.9-billion.
“The improved financial performance expected for the current period is despite continued macroeconomic headwinds faced across the continent, which are impacting disposable income at a consumer level,” it said.
“Management has remained focused on tight cost controls to offset these challenges and continued to reduce losses in the Rest of Africa segment, which has been the largest contributor to the improvement in group performance.”
MultiChoice Group will publish its results on 11 November. — © 2019 NewsCentral Media
