Company Data
| Last traded |
R389.02 |
| Change |
R1.02 |
| % Change |
0.26% |
| Cumulative volume |
910,493 |
| Market cap |
R159.71bn |
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Johannesburg
- Posting strong earnings growth on Tuesday on the back of a good performance
from its internet businesses, JSE-listed media group Naspers [JSE:NPN] said it
will increase its dividend paid to shareholders.
Reporting
full-year results for the year to end-March, the company said revenue rose 5%
to R28bn while operating profit increased by 10% to R5.4bn. Core headline
earnings grew 22% to R5.3bn.
The company
has also recommended a dividend increase of 14% to 235c per share.
"The
internet industry showed bold growth in emerging markets. Our pay television
operations held up well whilst the technology business returned to operating
profitability," the group said in commentary accompanying the results.
"Print businesses globally, including our own, suffered in the recession.
Overall, however, it was a good year for the group."
Chinese
online portal Tencent's contribution to core headline earnings increased by 76%
to R2.1bn. Revenue from the group's internet segment went up 24%, while
operational profit grew to R2.4bn - up 49%.
However,
Naspers said the strong rand had a negative effect on its earnings from
internet businesses. "Calculated on a stable currency basis, we estimate
that both revenues and operational profits would have advanced [a further]
19%," the company said. The internet segment's recorded revenue went up 24%,
while operational profit grew to R2.4bn - up 49%.
Apart from
a strong showing from its online businesses, the company also saw increased
demand for its local pay television offering Dstv. The service grew its
user base by 450 000 to 2.85 million homes in South Africa, and by 184 000 to
1.1 million in other African countries.
In terms of
the operating outlook, the company advised stakeholders: "Looking ahead, we
mostly have resilient businesses in emerging markets that are still
expanding. Competition in pay-TV, regulation and consumer spending levels
remain challenges. We plan to continue growing the group through a combination
of organic growth and acquisitions, focusing on internet."
In early
trade on Tuesday, Naspers shares had slipped 0.3% (89c) to trade at R261.
-
Fin24.com
Fin24.com is a
Naspers subsidiary