Naspers Guides for Growth in Core Headline EPS

Date : 06/12/2019 @ 5:25PM
Source : Dow Jones News

Naspers Guides for Growth in Core Headline EPS

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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