Multichoice to post full year loss after IPO

multichoice

Naspers Limited’s Multichoice Africa has just issued a full year profit warning. The JSE-listed entertainment company said it will post full-year loss.

The company said in the update that it expects headline loss of between 324 cents and 390 cents ($0.2638) per share for the year to March 31, compared with 410 cents for the previous year.

However, Multichoice Group said the disposal of 5% of its stake in MultiChoice South Africa reduced earnings per share (EPS) and headline earnings per share (HEPS) by 438 cents while foreign exchange losses are expected to reduce EPS and HEPS by 263 cents.

The company said it has 14 million households o its DSTV and GoTV platform.