MultiChoice Group, the company that operates DStv, says it expects expects core headline earnings per share for the year ended March 2021 to be between 32% (182 cents) and 37% (211 cents) higher than 569 cents a year ago.<\/p>\n
Trading profit is expected to be between 25% (R2 billion) and 30% (R2.4 billion) higher than the R8 billion reported for the prior year, while on a constant currency basis, and excluding any M&A, trading profit is expected to be between 40% and 45% higher than before.<\/p>\n
“The improved financial performance for FY21 was achieved despite continued macro-economic and Covid-19 challenges across the continent. 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.<\/p>\n
“A further reduction in losses in the Rest of Africa segment has been the largest contributor to the improvement in group performance,” the owner of Supersport and ShowMax said.<\/p>\n
Headline earnings per share for FY21 is expected to be between 280% (358 cents) and 295% (378 cents) higher than the prior year’s headline earnings per share of 128 cents, MultiChoice said.<\/p>\n
“The key reasons for the above movements are an improvement in trading performance and unrealised foreign exchange gains due to stronger local currencies, primarily the South African rand,” it said.<\/p>\n