MultiChoice Group has reported a resilient operational performance for the year ended March 2024, delivering a 26 percent trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48 percent, despite “very challenging macroeconomic conditions.”

A report on the past financial year shows that clear strategic milestones were reached, with the group successfully launching Showmax 2.0, SuperSportBet and Moment, all of which are now revenue-generating and supporting the group’s future growth prospects.

The Group’s revenue increased by three percent on an organic basis. However, due to weaker local currencies and consumer pressure, reported Group revenue declined by five percent to Shs11.3 trillion. The report also shows that subscription revenues grew by two percent on an organic basis. On a reported basis, though, subscription revenues declined by seven percent due to a weaker Naira.

The Group’s trading profit increased 24 percent on an organic basis, despite the additional Shs284.2 billion investment in Showmax to drive future growth. After factoring in the Shs913.5 billion impact related to foreign exchange weakness, reported trading profit declined by 21 percent to Shs1.6 trillion.

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