Naspers forecasts leap in earnings - TechCentral

Naspers forecasts leap in earnings

The Naspers head office in Cape Town

The Naspers growth story continues apace. The technology and media group said on Thursday that it expects core earnings per share to leap by up to 35% in the six months to 30 September 2010.

The news sent the group’s share price soaring on the JSE on Thursday afternoon. By mid-afternoon, it was trading up almost 5% at R366,50. In the past year, the share has gained 23,7%.

Naspers, which owns a raft of international instant messaging and Internet businesses, expects core earnings to be between 25% and 35% higher than the 648c/share reported in the interim period a year ago.

The group, which also owns Internet service provider MWeb and pay-TV operator MultiChoice, regards core headline earnings as an appropriate indicator of the sustainable operating performance of the group as it adjusts for nonrecurring and nonoperational items.

Earnings per share will be between 110% and 120% higher as a result of once-off accounting profit. Headline earnings per share will be 55% to 65% higher

Naspers is expected to publish its interim financial results on 30 November.  — Staff reporter, TechCentral

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