DStv owner flags hefty loss amid R1.7bn currency hit, Showmax investment

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DStv owner flags hefty loss amid R1.7bn currency hit, Showmax investment

DStv owner MultiChoice warned shareholders to expect a significant rise in its interim loss as it feels the effects of weaker African currencies and the costs related to its new push for streaming service Showmax.

The group said it expects to report a headline loss per share to worsen by between 233c and 229c to end September, and as much as fivefold fall from previous loss of 58c in the prior period, when it booked a R248 million loss. MultiChoice, valued at just under R30 billion on the JSE, said it had to absorb a R1.7 billion cost as a result of weaker currencies, particularly the Nigerian naira, which among other things affected inter-company loans and the valuation of its dollar-denominated transponder leases.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.

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