{"id":467933,"date":"2022-11-07T14:41:43","date_gmt":"2022-11-07T12:41:43","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=467933"},"modified":"2022-11-07T14:47:27","modified_gmt":"2022-11-07T12:47:27","slug":"dstvs-owner-hits-financial-trouble","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/broadcasting\/467933-dstvs-owner-hits-financial-trouble.html","title":{"rendered":"DStv’s owner hits financial trouble"},"content":{"rendered":"

MultiChoice has issued a trading statement warning shareholders that it expects to report a net loss in its interim financial results on Thursday.<\/p>\n

Last year the company announced earnings per share of R3.17 during the six months between 1 April and 30 September.<\/p>\n

This year it expects it to be between R3.71 and R3.87 lower. That\u2019s to say, swing from a net profit to a loss per share of between R0.54 and R0.64.<\/p>\n

Similarly, MultiChoice\u2019s headline earnings per share are also expected to take a tumble by between R4.06 and R4.20 from R3.56.<\/p>\n

Trading profit is expected to be between 0% and 5% (R0.3bn) higher than the R6.0 billion reported last year.<\/p>\n

Excluding mergers and acquisitions and foreign exchange losses, this improves to an increase of between 2% (R0.1bn) and 7% (R0.4bn) higher..<\/p>\n

\u201cThe board considers trading profit and core headline earnings per share as the two most appropriate indicators of the operating performance of the group, as they adjust for non-recurring and non-operational items,\u201d MultiChoice stated.<\/p>\n

It attributed the reduction in earnings and headline earnings per share to higher unrealised foreign exchange losses.<\/p>\n

These stem from the translation of MultiChoice\u2019s dollar-denominated liabilities \u2014 including satellite transponder leases \u2014 and the US dollar\u2019s strength against the South African rand.<\/p>\n

\u201cThis is further impacted by an increase in foreign exchange losses associated with the repatriation of cash from Nigeria at the parallel rate,\u201d said MultiChoice.<\/p>\n

\u201cThese exchange losses are considered to be of a temporary nature,\u201d it assured.<\/p>\n

MultiChoice’s shares on the JSE were trading 0.57% lower than when it started the day. They are down 2.9% over the past five days, down 6.2% over the past six months, and 2.6% lower year-to-date.<\/p>\n

At the time of publication, MultiChoice was trading at R117.91 per share \u2014 down from R120.35 at the start of the day.<\/p>\n

\"\"<\/a><\/p>\n

\n

Now read: DStv launches Black Friday deal<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"

MultiChoice has warned shareholders that it’s about to swing from making a net profit to a net loss.<\/p>\n","protected":false},"author":15,"featured_media":411362,"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":[24],"tags":[85,35,475],"class_list":["post-467933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broadcasting","tag-dstv","tag-headline","tag-multichoice"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/467933"}],"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\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=467933"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/467933\/revisions"}],"predecessor-version":[{"id":467943,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/467933\/revisions\/467943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/411362"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=467933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=467933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=467933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}