Naspers expects its core headline earnings to rise by as much as 28% in the six months to end-September 2016 compared to the same period a year ago.

The JSE-listed global technology and media giant said core headline earnings, which it regards as an “appropriate indicator of the sustainable performance of the group”, to increase by between 23% and 28%, or between $0,39 and $0,47/share above the $1,69 reported in the previous interim financial period.

Naspers, which owns a one-third stake in fast-growing Chinese Internet giant Tencent Holdings, said earnings per share will fall by between 10% and 15% ($0,15 to $0,22/share) from last year’s $1,48/share.

Headline earnings per share are expected to increase by between 10% and 15% ($0,11 to $0,17/share) from $1,14 before.

Naspers said it will publish its interim results on Friday, 25 November.

The group’s share price was last quoted at R2 178,01/share, up 1,6% on the session but off its best level of the day of R2 191,50. The counter is trading marginally down — -0,2% — after the past 12 months. — (c) 2016 NewsCentral Media