12th Nov 2008 12:30
Naspers Limited
(Incorporated in the Republic of South Africa)
(Reg. No 1925/001431/06)
JSE Share Code: NPN ISIN: ZAE000015889
LSE ADS Code: NPSN ISIN: US6315121003
("Naspers")
Trading Statement
The Naspers group is presently finalising its interim report for the six months ended 30 September 2008. Shareholders are advised that the group continues to progress in most of the markets in which it operates.
It is expected that earnings per share for the six months ended 30 September 2008 will be between 120% and 130% higher compared to the prior period's earnings per share of 422 cents, mainly as a consequence of the non- recurring accounting profit arising on the sale of the pay-television operation in Greece.
Headline earnings per share for the period are expected to be between 20% and 30% lower than the prior period's headline earnings per share of 461 cents. This is as a consequence of the accounting treatment for the amortisation of intangible assets arising from the application of purchase accounting to recent acquisitions.
We expect core headline earnings to be between 0% and 10% higher than the comparable period's R1,7 billion and core headline earnings per share to be between 0% and 10% lower than the comparable period's core headline earnings per share of 495 cents. Shareholders are reminded that the board considers core headline earnings an appropriate measure of the sustainable operating performance of the group, as it adjusts for non-recurring and non-operational items.
Further details will be provided in the interim report, due to be released on or about
26 November 2008. The financial information on which this trading statement is based has not been reviewed or reported on by the company's auditors.
Cape Town
12 November 2008
Sponsor: Investec Bank Limited
Related Shares:
NPSN.L