Naspers anticipates earnings rise

Naspers advised on Monday (18 June) that it expects core headline earnings per share for the year ended March 2012, to be between 10% and 20% higher than the comparable period’s 1,612 cents.

The group reminded shareholders that the board considers core headline earnings an appropriate indicator of the sustainable operating performance of the group, as it adjusts for non-recurring and non-operational items.

Headline earnings per share for the period are expected to be between 10% and 20% higher than the prior period’s 1,125 cents, Naspers said.

Earnings per share are seen between 40% and 50% lower compared to the prior period’s 1,405 cents, “mainly as a consequence of once-off dilution gains in the prior year arising from the contribution of the group’s stake in Mail.ru into the newly listed entity,” it said.
In 2011, Naspers  reported an 18% increase in revenue to R33 billion, with trading profit at R5.8 billion.

Naspers owns 35% of Tencent Holdings, whose subsidiaries provide Internet and mobile phone value-added services and operate online advertising services in the People’s Republic of China, while both companies have stakes in Russia’s Mail.ru Group.

Additional brands within Naspers’ portfolio include DStv Mobile, DStv Online, M-Net, MultiChoice, MultiChoice Africa/GOtv, MWEB, SuperSport and Media24.

Naspers noted that further details will be provided in the provisional report, due to be released on about 27 June.

In afternoon trade on the JSE, shares in Naspers slipped 95 cents to R464.50.

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Naspers anticipates earnings rise