Naspers expects core earnings to rise, overall earnings to fall

Internet and media firm Naspers told shareholders it was finalising its provisional report for the year to 31 March on Wednesday, indicating it expected core headline earnings to be between 15% and 20% higher than last year’s 255 cents per share.

The company issued a caveat, however, saying “shareholders are reminded that the board considers 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 then said it expects earnings per share for the year will be between 20% and 25% lower that the prior period’s 311 cents.

Headline earnings per share for the year are expected to increase between 0% and 5% from the prior period’s 167 cents, the Naspers board added.

“Further details will be provided in the provisional report, due to be released on or about 24 June,” the board concluded.