MultiChoice on Friday said that the pay-TV group expects to report an annual profit for its 2019/2020 financial year and that core headline earnings would rise by between 35% to 40%.
MultiChoice that provides the DStv satellite TV service and GOtv digital terrestrial television (DTT) services in South Africa and across sub-Saharan Africa as well as the Showmax subscription video-on-demand (SVOD) service, will report its annual financial results for the 2019/2020 financial year on 10 June 2020 amidst the global Covid-19 pandemic and increasing competition from competitors like Netflix and other video streaming services.
MultiChoice says that it has further cut costs and that foreign exchange changes have been working in its favour, and expects headline earnings per share for the 2019/2020 financial year to be between 460 cents and 500 cents.
That compares with a MultiChoice loss of 353 cents per share for the previous financial year.
"Focus on cost containment allowed the business to drive a further reduction in losses in the rest of Africa MultiChoice Africa segment, which has been the largest contributor to the improvement in group performance," MultiChoice says in a statement.
