{"id":40574,"date":"2013-06-25T08:32:16","date_gmt":"2013-06-25T06:32:16","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=40574"},"modified":"2013-06-25T09:32:46","modified_gmt":"2013-06-25T07:32:46","slug":"naspers-revenue-tops-r50-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/40574\/naspers-revenue-tops-r50-billion\/","title":{"rendered":"Naspers revenue tops R50 billion"},"content":{"rendered":"

Media and Internet giant Naspers<\/a> on Tuesday (25 June) reported a 27% rise in consolidated revenues, to R50.2 billion for the year ended March 2013.<\/p>\n

Growth came from organic expansion of existing businesses and\u00a0acquisitions, supplemented by the depreciation of the rand.<\/p>\n

In the aggregate, managed Internet revenues expanded 80% to R34,6 billion. Trading profits from the internet segment\u00a0were 44% higher at R6.2 billion.<\/p>\n

Development spend accelerated to R4.3 billion (2012: R2.8 billion), focused mainly on growing its e-commerce businesses\u00a0and the roll-out of pay-television services across Africa.<\/p>\n

As this development spend is expensed through the income\u00a0statement, Naspers said its consolidated trading profit for the year was flat at R5.7 billion.\u00a0Operating profit advanced 19% to R3.82 billion.<\/p>\n

Nasper\u2019s 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.<\/p>\n

Locally, it owns online retailers,\u00a0Kalahari.com<\/a>\u00a0and PriceCheck, pay television operation\u00a0DStv<\/a>, and Supersport, and\u00a0Mweb<\/a>.<\/p>\n

The group holds interests in Russian Internet firm\u00a0Mail.Ru Group<\/a>, and Chinese group,\u00a0Tencent<\/a>. Both reported positive growth and contributed R7.3 billion to\u00a0core headline earnings.<\/p>\n

“We recorded a non-recurring book profit of R2.6 billion, flowing from Mail.ru’s sale of shares in\u00a0Facebook. This profit is excluded from core headline earnings,” it said.<\/p>\n

On e-commerce, Naspers said: “We believe online shopping is a global consumer trend and anticipate that affordable tablets and\u00a0smartphones will accelerate the uptake of services in our markets.”<\/p>\n

The group said e-commerce revenues doubled to R11.4 billion, through a combination of organic growth and a few acquisitions.<\/p>\n

Naspers said its pay\u00a0TV\u00a0segment reports revenues 20% higher at R30.3 billion.<\/p>\n

Growth came largely from an increase in the net subscriber\u00a0base of 1.1 million, which now reaches 6.7 million households across 48 countries in Africa. Trading profits grew 18% to R7.6 billion,\u00a0despite the increased development spend on infrastructure.<\/p>\n

For print, Naspers cited a\u00a0“tough year” globally. Revenues were flat as advertisers continue to either divert their spend to\u00a0the Internet or cut budgets.<\/p>\n

The impairment of equity-accounted investments amounted to R2.1 billion and relates mainly to the group’s print media investment,\u00a0Abril.<\/p>\n

“Revenues in the print industry are buffeted by the dual headwinds of the macro-economic downturn in Brazil\u00a0and increased online competition. Whilst cost savings initiatives have been implemented, we believe it prudent to book\u00a0this impairment,” Naspers said.<\/p>\n

The net result of the above is that core headline earnings grew 20% to R22.16 per N ordinary share. Free cash flow for\u00a0the period was R3.5 billion, slightly lower than last year because of the higher capital expenditure.<\/p>\n

Naspers pointed to annual gross dividend increase of 15% to 385c per listed
\nN ordinary share, and 77c (previously 67c) per unlisted A ordinary share.<\/p>\n

Looking ahead, Naspers said it intends to expand its e-commerce businesses across emerging markets and to build its pay-television\u00a0subscriber base across the African continent.<\/p>\n

“A significant shift is visible in user activity moving from the personal\u00a0computer to mobile devices such as smartphones and tablets. This trend simultaneously disrupts existing business\u00a0models and creates new opportunities.”<\/p>\n

More on Naspers<\/h3>\n

Naspers has upside potential: analysts<\/strong><\/a><\/p>\n

Naspers to buy India\u2019s RedBus for R1.4bn: report<\/strong><\/a><\/p>\n

Naspers sees full-year earnings rise<\/strong><\/a><\/p>\n

Naspers hits new record on Tencent profit rise<\/strong><\/a><\/p>\n

Naspers in $570m Russian internet deal<\/strong><\/a><\/p>\n

Mail.Ru a cash cow for SA firm<\/a><\/strong><\/p>\n

Naspers associate to pay out special dividend<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Naspers on Tuesday reported a 27% rise in consolidated revenues, to R50.2 billion for the year ended March 2013. <\/p>\n","protected":false},"author":9,"featured_media":15768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[1],"tags":[26,3092,2946,107,5854,1977],"class_list":["post-40574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-kalahari-com","tag-mail-ru-group","tag-naspers","tag-pricecheck","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=40574"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40574\/revisions"}],"predecessor-version":[{"id":40608,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40574\/revisions\/40608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/15768"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=40574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=40574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=40574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}