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Naspers forecasts higher profits

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Media giant Naspers (NPN) advised on Friday that core headlines per share for the six months ended September are expected to be between 10% and 20% higher than the previous comparable half-year’s 921 cents.

The group explained that it considered core headline earnings an appropriate indicator of the sustainable operating performance of the group‚ as it adjusts for non-recurring and non-operational items.

It is expected that earnings per share for the six months to 30 September 2012 will be between 110% and 120% higher compared to the prior period’s 498 cents‚ mainly as a consequence of a non-recurring book profit flowing from Mail.ru’s sale of a portion of its shares in Facebook.

Headline earnings per share for the period are expected to be between 15% and 25% higher than the prior period’s 692 cents.

Naspers said that further details would be provided in the interim report‚ due to be released on or about 27 November 2012. - I-Net Bridge

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