{"id":309637,"date":"2019-06-11T07:12:43","date_gmt":"2019-06-11T05:12:43","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=309637"},"modified":"2019-06-11T07:13:42","modified_gmt":"2019-06-11T05:13:42","slug":"dstv-is-killing-it","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/business\/309637-dstv-is-killing-it.html","title":{"rendered":"DStv is killing it"},"content":{"rendered":"<p>MultiChoice is set to release its financial results for the year ended 31 March 2019, which will show that the company made a trading profit of around R7 billion.<\/p>\n<p>The company said its trading profit is expected to be between 9% (R0.6 billion) and 13% (R0.8 billion) higher than the prior year\u00b4s reported R6.3 billion.<\/p>\n<p>On an organic basis &#8211; reflecting results on a constant currency basis &#8211; trading profit is expected to be between 24% (R1.5 billion) and 30% (R1.9 billion) higher.<\/p>\n<p>The improved financial performance, MultiChoice said, is mainly driven by solid DStv subscriber growth and a reduction in losses in the &#8220;Rest of Africa&#8221; segment.<\/p>\n<h3 class=\"my-4\">BEE and weak rand hurt earnings per share<\/h3>\n<p>It was, however, not all good news for shareholders. MultiChoice expects the loss per share for the current period to be between R6.73 and R7.39 lower than the prior year&#8217;s reported earnings per share of R3.32.<\/p>\n<p>Headline loss per share for the current period is expected to be between R7.24 and R8.00 lower than the prior year\u00b4s reported headline earnings per share of 410 cents.<\/p>\n<p>MultiChoice explained that the key reasons for the movements are:<\/p>\n<ul>\n<li>It had to account for the impact of allocating for no consideration a 5% stake in MultiChoice to Phuthuma Nathi Investments 1 and Phuthuma Nathi Investments 2 as part of an unbundling process.<\/li>\n<li>The impact of the depreciation of the rand against the US dollar has led to an increase in unrealised foreign exchange losses on translation of the group&#8217;s US dollar denominated transponder lease liabilities.<\/li>\n<\/ul>\n<p>Further details about MultiChoice\u2019s results will be provided in the consolidated provisional annual results, due to be released on 18 June 2019.<\/p>\n<h3 class=\"my-4\">Now read: <a href=\"https:\/\/mybroadband.co.za\/news\/broadcasting\/308497-dstv-censorship-fight.html\">DStv censorship fight<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>MultiChoice&#8217;s latest financial results will show that it made a profit of around R7 billion in the past year.<\/p>\n","protected":false},"author":23,"featured_media":120242,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[85,35,475],"class_list":["post-309637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dstv","tag-headline","tag-multichoice"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/309637"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=309637"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/309637\/revisions"}],"predecessor-version":[{"id":309641,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/309637\/revisions\/309641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/120242"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=309637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=309637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=309637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}