African pay-TV group MultiChoice forecasts profit rise

JOHANNESBURG, Nov 7 (Reuters) - Africa’s biggest pay-TV group MultiChoice said on Thursday it expects its core headline earnings per share (HEPS) for the first half of the year to be between 20% and 25% higher than during the same period last year.

The company, which was spun off by South African e-commerce giant Naspers in February, said its standard HEPS and trading profit were also expected to rise thanks mostly to reduced losses in its businesses outside of South Africa.

HEPS, the main profit measure in South Africa, would be between 256 cents and 271 cents higher for the six months to Sept. 30, compared to the prior year’s 78 cents, thanks also to favourable foreign exchange movements, the company said in a statement.

MultiChoice shares were up 0.52% to 124.9 rand by 1417 GMT.

Reporting by Emma Rumney Editing by Tim Cocks