MultiChoice Group demonstrated resilient operational performance for the year ended March 2024, delivering a 26 per cent trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48 per cent, despite very challenging macro-economic conditions.
However, the result showed that overall active subscribers declined by nine per cent because of the challenging consumer environment. This was mainly due to a 13 per cent decline in the Rest of Africa business, with Nigeria, Angola and Zambia most affected, while the South African business was more resilient, declining by only five per cent.
In the report announced yesterday, the group revenue increased by three per cent on an organic basis, however, due to weaker local currencies and consumer pressure, reported group revenue declined by five per cent. Subscription revenues grew by two per cent on an organic basis.
However, on a reported basis,…
Source: Guardian Newspaper
