MultiChoice has released a trading statement ahead of its interim financial results for the six months ended 30 September 2019, stating that it expects to post a significant increase in earnings.
“Compared to the group’s results for the six months ended 30 September 2018, the group expects core headline earnings per share for the current period to be between 20% and 25% higher than the prior year´s 352 ZAR cents,” MultiChoice stated.
“The board considers core headline earnings per share and trading profit as the two most appropriate indicators of the operating performance of the group, as they adjust for non-recurring and non-operational items.”
MultiChoice also said that it expects a 20-25% increase in trading profit for the same period, despite the tough economic situation in South Africa.
“The improved financial performance expected for the current period is despite continued macro-economic headwinds faced across the continent, which are impacting disposable income at a consumer level,” MultiChoice said.
“Management has remained focused on tight cost controls to offset these challenges and continued to reduce losses in the Rest of Africa segment, which has been the largest contributor to the improvement in group performance.”
The company said that it would provide further details in its interim financial results, which are set to be released on 11 November 2019.