Naspers sees full-year earnings rise

SA media giant Naspers says it expects core headline earnings per share for the year ending March 2013, to be between 15% and 25% higher than the comparable period´s R18.50.

In afternoon trade on the JSE, shares in Naspers declined 1.99% or R14.21 to R699.80, giving the group a market value of R290.8 billion. However, the All-Share Index lost 2.93%.

The majority of our core headline earnings are generated from operations offshore, Naspers noted in a trading statement on Tuesday (11 June).

The group holds interests in Rusian Internet firm Mail.Ru Group, and Chinese group, Tencent.

“As a consequence, the currency translation effect of the depreciation of the Rand relative to the prior period will play a significant role in boosting expected core headline earnings growth,” Naspers said.

It 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 25% and 35% higher than the prior period´s R 12.97.

“It is expected that earnings per share for the year ended 31 March 2013, will be between 100% and 110% higher compared to the prior period´s 770 cents, mainly as a consequence of the book profit flowing from Mail.ru´s sale of a portion of its shares in Facebook, which is non-recurring,” Naspers said.

Naspers reported a 19% increase in consolidated revenue to R39.5 billion for the
year ended March 2012, and delivered a dividend increase of 24% to R3.35.

Nasper’s principal operations are in internet platforms, pay-television and the provision of related technologies and print media including publishing, distribution and printing of magazines, newspapers and books.

Locally, it owns online retailers, Kalahari.com and PriceCheck, pay television operation DStv, and Supersport, and Mweb.

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Naspers sees full-year earnings rise