{"id":569026,"date":"2024-11-08T09:12:11","date_gmt":"2024-11-08T07:12:11","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=569026"},"modified":"2024-11-08T09:17:14","modified_gmt":"2024-11-08T07:17:14","slug":"good-and-bad-for-dstv-owner-multichoice","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/broadcasting\/569026-good-and-bad-for-dstv-owner-multichoice.html","title":{"rendered":"Good and bad for DStv owner MultiChoice"},"content":{"rendered":"\n<p>MultiChoice has released an interim trading statement for the six months ended 30 September 2024, which revealed a mixed bag of results.<\/p>\n\n\n\n<p>MultiChoice said its financial performance has been negatively impacted by severe pressure in the macroeconomic, foreign exchange rate and consumer environment in key markets.<\/p>\n\n\n\n<p>To offset weaker subscriber activity and foreign exchange pressures, it is pursuing an inflationary pricing strategy and targeting R2.0 billion in cost savings.<\/p>\n\n\n\n<p>&#8220;The group has made strong progress against these objectives on a year-to-date basis,&#8221; MultiChoice said in its trading update.<\/p>\n\n\n\n<p>Organic trading profit is expected to be flat, while organic trading profit excluding Showmax is expected to increase between 30% and 35%.<\/p>\n\n\n\n<p>MultiChoice&#8217;s loss per share is expected to increase between 34% and 38%, and headline loss per share by between 44% and 48%.<\/p>\n\n\n\n<p>Adjusted core headline earnings per share are expected to decrease by between 97% and 101% for the reporting period.<\/p>\n\n\n\n<p>It informed shareholders that its board considers <strong>trading profit<\/strong> and <strong>adjusted core headline earnings per share<\/strong> to be two appropriate indicators of the operating performance.<\/p>\n\n\n\n<p>MultiChoice favours these indicators because they adjust for non-recurring and non-operational items.<\/p>\n\n\n\n<p>Adjusted core headline earnings include the impact of losses incurred on cash remittances from the Rest of African markets, net of tax and non-controlling interest.<\/p>\n\n\n\n<p>&#8220;Organic trading profit and adjusted core headline earnings per share are considered to be non-IFRS measures,&#8221; MultiChoice said.<\/p>\n\n\n\n<p>Organic trading profit is calculated by excluding foreign currency movements and changes in the group&#8217;s composition.<\/p>\n\n\n\n<p>Adjusted core headline earnings are calculated by adjusting headline earnings for the following items, net of tax and non-controlling interests.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Amortisation of intangible assets arising from business combinations;<\/li>\n\n\n\n<li>Accounting adjustments related to IFRS 3: Business Combinations;<\/li>\n\n\n\n<li>Equity-settled share-based payment compensation;<\/li>\n\n\n\n<li>Unrealised and non-recurring foreign currency gains\/losses;<\/li>\n\n\n\n<li>Certain fair-value adjustments under IFRS;<\/li>\n\n\n\n<li>Nonrecurring current and deferred taxation impacts;<\/li>\n\n\n\n<li>Non-recurring empowerment transactions;<\/li>\n\n\n\n<li>Acquisition-related costs and once-off contractual settlements;<\/li>\n\n\n\n<li>Non-recurring, non-routine impairments of certain assets; and<\/li>\n\n\n\n<li>Losses on cash remittances, mainly in Nigeria, net of tax and the non-controlling interest.<\/li>\n<\/ul>\n\n\n\n<p>The table below summarises the group&#8217;s estimated changes in loss and headline loss per share, trading profit, and adjusted core headline earnings per share.<\/p>\n\n\n\n<p>It further compares the six months ended 30 September 2024 with the six months ended 30 September 2023.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"table-responsive\"><table class=\"table\" class=\"has-fixed-layout\"><tbody><tr><td><strong>Measure<\/strong><\/td><td><strong>Expected change<\/strong><\/td><\/tr><tr><td>Loss per share<\/td><td>-34% to -38%<\/td><\/tr><tr><td>Headline loss per share<\/td><td>-45% to -49%<\/td><\/tr><tr><td>Trading profit<\/td><td>-44% to -48%<\/td><\/tr><tr><td>Trading profit (organic)<\/td><td>-3% to +1%<\/td><\/tr><tr><td>Trading profit (organic, excluding Showmax)<\/td><td>+30% to +34%<\/td><\/tr><tr><td>Adjusted core headline earnings per share<\/td><td>-97% to -101%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>MultiChoice has released an interim trading statement for the six months ended 30 September 2024, which revealed a mixed bag of results.<\/p>\n","protected":false},"author":23,"featured_media":558689,"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":[85,475,32140],"class_list":["post-569026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broadcasting","tag-dstv","tag-multichoice","tag-showmax"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/569026"}],"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=569026"}],"version-history":[{"count":3,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/569026\/revisions"}],"predecessor-version":[{"id":569035,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/569026\/revisions\/569035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/558689"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=569026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=569026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=569026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}