Naspers sees healthy profit rise

Media and e-commerce group Naspers says it expects core headline earnings per share to be between 35% and 43% higher for the six months ended September 2018, than 277 US cents before.

It expects that earnings per share for the six month period will be between 210% (531 US cents) and 217% (549 US cents) higher than the adjusted comparable period’s 253 US cents.

Headline earnings per share is expected to increase by between 200% (422 US cents) and 207% (437 US cents) from the adjusted prior period’s 211 US cents.

Naspers said that earnings per share was impacted significantly by the once-off gain recognised on disposal of the group´s interest in Flipkart Limited.

Headline earnings and earnings per share increased considerably as a result of the group’s share of fair-value gains recognised by Tencent on certain of its investments.

Shares in Naspers climbed 1.67% on Monday, to R2,825. The group expects to publish its results on 30 November 2018.

Read: Now may be a good time to invest in Naspers: analyst

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Naspers sees healthy profit rise