Naspers shareholders to get boost in earnings

2017-06-14 19:43 - Lameez Omarjee with Bloomberg
Post a comment 0

Naspers. (Duncan Alfreds, Fin24)


Johannesburg – Naspers [JSE:NPN] expects shareholder earnings to increase by more than 180%. 

This is according to a trading statement issued by the internet and media group on Wednesday. The group is finalising its annual financial statements for the year ended March 31, 2017.

Naspers expects earnings per share for the year to increase between 181% to 187%, from the previous year’s earnings of 238 US cents (2999c).

Naspers also highlighted that core headline earnings per share could increase between 33% and 39% from the previous year’s 298 US cents (3756c).

Headline earnings per share for the year is expected to increase between 4% and 10% from the previous year’s 168 US cents (2117c).

The final year results are expected to be released on June 23, 2017.

READ: Naspers-backed Delivery Hero targets $500m in IPO

Naspers recently bought a 10% stake in Delivery Hero, a Berlin-based food takeout business.  Naspers will be represented with one member on Delivery Hero‘s Supervisory Board.

Bloomberg reported that Delivery Hero plans to list on the Frankfurt stock exchange, with an Initial Public Offering worth $507m (R6.4bn).

* Fin24 is part of Media24, a subsidiary of Naspers.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

Read more about: naspers  |  media  |  internet  |  investment  |  shareholders