MultiChoice revenue rises to over R50bn for year to March
The company added 1.6-million subscribers across Africa, pushing its overall subscriber base to 15.1-million
Pay TV operator MultiChoice said its revenue for the year ended March grew 6% to R50.1bn, citing its success in the rest of Africa as one of the contributing factors.
MultiChoice's local business contributed R33.7bn, the rest of Africa added R14.8bn and the technology segment R1.6bn.
The company, which listed on the JSE in February, added 1.6-million subscribers across Africa, pushing its total subscriber base to 15.1-million.
For the first time, MultiChoice's subscriber base in the rest of the continent surpassed domestic subscriptions by 300,000.
Operating profit climbed 15% to R7.3bn. The group said no dividend would be declared for the 2019 financial year, adding that it remained on track to declare a dividend of 596c per share in 2020.
MultiChoice, which operates in 50 countries, said it would continue investing in video entertainment in Africa.
“Innovation is core to our future, and we will continue to drive the adoption of online products [particularly in SA],” the company said.