CALVO MAWELA, MULTICHOICE GROUP CEO
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MultiChoice reported a strong set of full-year results on Tuesday, with good growth coming from its lower-tier pay-television bouquets, although its DStv Premium segment remains under pressure.
In the year ended 31 March 2019, MultiChoice added 1.6 million subscribers across Africa, representing growth of 12%, taking the total active base to 15.1 million. Core headline earnings were up 10% to R1.8-billion. Trading profit was in line with the prior year at R10.2bn, while the trading margin remained stable at 30%. However, the group reported a diluted headline loss of more than R1.5-billion as a result of costs associated with expanding its black shareholding and losses related to foreign exchange contracts.
The strong operational performance was achieved “despite continued macroeconomic headwinds and consumer affordability pressure, illustrating the resilience of our products”, the group said in a statement to shareholders.
In the year ended 31 March 2019, MultiChoice added 1.6 million subscribers across Africa, representing growth of 12%, taking the total active base to 15.1 million. Core headline earnings were up 10% to R1.8-billion. Trading profit was in line with the prior year at R10.2bn, while the trading margin remained stable at 30%. However, the group reported a diluted headline loss of more than R1.5-billion as a result of costs associated with expanding its black shareholding and losses related to foreign exchange contracts.
The strong operational performance was achieved “despite continued macroeconomic headwinds and consumer affordability pressure, illustrating the resilience of our products”, the group said in a statement to shareholders.
