Multichoice Sees Earnings And Profits Up By 45% Year-On-Year!
Africa's biggest Pay-TV company, Multichoice Group, said on Monday 09th November that it foresees up to 45 per cent increase in its headline earnings and profits in the six months to September 2020 on a year-on-year basis.
The trading statement issued by the company stated it expects to achieve core headline earnings per share of 40 per cent and trading profit of 45 per cent compared to what it did this time last year.
Multichoice commented, "The improved financial performance for the current period was achieved despite continued macro-economic headwinds across the continent, including the impact of Covid-19, which especially depressed advertising revenues and commercial subscription revenues."
The company also stated that "The timing of content costs and a strong focus on overall cost reduction allowed the group to drive a further reduction in losses in the Rest of Africa segment, which has been the largest contributor to the improvement in group performance."
The interim financial statement will be made public by Multichoice on 12th November 2020.