Naspers Guides for Growth in Core Headline EPS
13 June 2019 - 2:25AM
Dow Jones News
By Adam Clark
Naspers Ltd. (NPN.JO) expects its core headline earnings per
share to have increased by up to a third in fiscal 2019, the South
African investment group said Wednesday.
The company anticipates growth of between 31% and 33% in core
headline EPS for its year ended March 31. That compares with 581
cents a share the prior fiscal year. Core headline EPS is the
company's preferred performance metric, as it strips out
non-operational items.
Adjusted for discontinued operations, Naspers expects core
headline EPS to have grown between 24% and 26% from 553 cents a
share in fiscal 2018.
Naspers forecasts that EPS will fall by around 40%, after the
previous year's figure was boosted by the $9.1 billion sale of part
of its shareholding in China's Tencent Holdings Ltd. (0700.HK).
Headline EPS are set to more than double, boosted by fair-value
gains.
Naspers had said last month that it will go ahead with plans to
list its Internet assets in Amsterdam, including its $122 billion
stake in Tencent, in July.
Write to Adam Clark at adam.clark@dowjones.com
(END) Dow Jones Newswires
June 12, 2019 12:10 ET (16:10 GMT)
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