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Broadband

Naspers expects FY HEPS to rise by 124%

Thursday 13 June 2019 | 11:38 CET | News

Naspers said it expects headline earnings per share (HEPS) from continuing operations to rise by between 121 percent and 124 percent for the year to March 2019, lifted by fair-value gains recognised by Tencent, of which it owns 30 percent. Core headline earnings per share are expected to rise between 24 percent and 26 percent. Naspers said it considers core HEPS an appropriate indicator of group operating performance, as it adjusts for non-operational items. 

Earnings per share (EPS) are expected to fall by between 62 percent and 63 percent. This was mainly due to the gain of USD 9.1 billion recognised on the sale of a 2 percent interest in Tencent in March 2018, which is non-recurring in March 2019.

EPS were also affected significantly by the gain of USD 1.6 billion recognised on disposal of the group's interest in Flipkart, as well as by a gain on the distribution of the MultiChoice Group to shareholders. The latter gain is not part of earnings from continuing operations.

During the financial year, Naspers spun off and separately listed its pay-TV group Multichoice. The results of that business will therefore be presented as results from discontinued operations, it said. The financial results are due for release on 21 June.



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Categories: Broadcast & Satellite / Internet
Companies: MultiChoice / Naspers / Tencent
Countries: Africa
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