MULTICHOICE Group benefitted from subscriber growth, a recovery in advertising and cost controls during its financial year to end-February 2022, the group said in a trading statement yesterday.
However, these factors were offset by an increase in content costs as the sporting calendar normalised and local production activity accelerated after prior year Covid-19 interruptions.
Trading profit was expected to be between 0 percent and 3 percent higher than the R10.3bn reported for the year ended March 31, 2021.
Core headline earnings per share was expected to be between 5 percent and 8 percent higher than 767 cents reported previously.
Headline earnings a share was expected to be between 20 percent (99 cents) and 25 percent (124 cents) lower than the headline earnings per share of 496 cents reported in 2021.
This was mainly due to lower unrealised foreign exchange gains on the translation of transponder lease liabilities stemming from a less significant appreciation in the rand against the dollar and an increase in foreign exchange losses associated with the repatriation of cash from Nigeria at the parallel rate, the group said in the statement.
BUSINESS REPORT