Naspers says full-year earnings to be 30% higher

Johannesburg - Naspers [JSE:NPN], Africa’s biggest company by market value, said full-year earnings per share excluding one-time items will be as much 30% higher than last year’s R21.81, missing analyst estimates.

The company, which owns a 34% stake in Chinese Internet operator Tencent Holdings, was forecast to make R28.68 per share in the year ending March, according to the average of 15 analyst estimates polled by Bloomberg.

Earnings per share will be as much as 145% higher in the period, “mainly as a consequence of gains recognised by our associates,” Naspers said in a statement on Wednesday.

Naspers shares declined 0.5% to R1 814.88 by the close of the JSE on Wednesday, paring the stock’s gain this year to 20%.

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