DStv owner MultiChoice has announced that it expects to report low profit growth this financial year.
DStv owner MultiChoice has informed shareholders that it expects to report a trading profit growth of between 0% and 3% for the year ended 31 March 2022 — around R300 million.
Last year, MultiChoice gave shareholders much better news at results-time, promising a trading profit increase of between 25% and 30% . “The financial performance for FY22 benefited from sustained subscriber growth, the recovery in advertising revenue and a continued focus on cost control across the business,” MultiChoice said in an announcement on the JSE’s news service.MultiChoice said its content costs were driven primarily by the R1.1-billion deferral in costs from the previous financial year as the sporting calendar normalised.
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