Naspers Expects 1st Half EPS to Fall Against Tough Comparative
19 November 2019 - 1:20AM
Dow Jones News
By Adria Calatayud
Naspers Ltd. (NPN.JO) said Monday that it expects first-half
earnings per share to fall sharply, as its year-earlier results
received a one-off boost from a sale of its stake in India's
Flipkart Ltd.
The South Africa-based investor--which owns a major stake in
China's Tencent Holdings Ltd. (0700.HK) through its
Amsterdam-listed arm Prosus NV (PRX.AE)--said it expects EPS for
the half year to Sept. 30 to fall by 31%-38%. This would result in
EPS for the half of between $4.87 and $5.42 compared with $7.82 for
the same period of fiscal 2019, Naspers said.
The company said it will book a $600 million gain on disposal of
its interest in MakeMyTrip Ltd. as well as a fair-value gain of
$400 million on investments held by Tencent.
Core headline EPS--the company's preferred earnings metric,
which excludes non-operational items--are expected to grow by up to
3% on year, Naspers said. The company said it expects core headline
EPS of between $3.80 and $3.91 for the first half compared with
$3.80 a year earlier.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
November 18, 2019 09:05 ET (14:05 GMT)
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