MultiChoice shares plunge on full-year earnings warning
‘Increased investment in decoder subsidies and marketing related to the 2022 Fifa World Cup,’ were partly to blame
08 June 2023 - 16:22
Market players punished MultiChoice on Thursday, sending shares off a cliff in afternoon trade as the group warned of an earnings drop of more than than 100%.
On Thursday, the DStv operator said it financial performance for the year ended March 2023 benefited from “strong subscriber growth, the Rest of Africa returning to profitability, and cost savings (from the group’s established cost optimisation programme) exceeding targets.”..
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