Despite the impact of Covid-19, pay TV service provider MultiChoice expects its core headline earnings per share to rise between 40% and 45% for the six months ended 30 September 2020.
In a trading update on Monday, MultiChoice said the core headline earnings per share were likely to be 197 cents more than the 2019 half year’s 437 cents. It expects its trading profit between 15% and 20% higher than the R4.8 billion it reported for the same period last year.
The group said it had performed better compared to the same period in 2019 due to its content cost adjustments and its focus on cost reduction.
“The improved financial performance for the current period was achieved despite continued macroeconomic headwinds across the continent, including the impact of Covid-19, which especially depressed advertising revenues and commercial subscription revenues,” said the group.
On Thursday, MultiChoice is due to release its interim results for the six months ended 30 September.